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I'MaGadgetCo. produces and sells widgets. Last year, it produced 18,000 widgets and sold each one for $8. To produce the 18,000 widgets, the company incurred
I'MaGadgetCo. produces and sells widgets. Last year, it produced 18,000 widgets and sold each one for $8. To produce the 18,000 widgets, the company incurred variable costs of $27,000 and a total cost of $36,000. Calculate I'MaGadgetCo's average fixed cost to produce 18,000 widgets.
1. I'MaGadgetCo. produces and sells widgets. Last year, it produced 18,000 widgets and sold each one for $8. To produce the 18,000 widgets, the company incurred variable costs of $27,000 and a total cost of $36,000. Calculate I'MaGadgetCo's average fixed cost to produce 18,000 widgetsStep by Step Solution
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