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Shivani runs a shop that sells custom made frames for artwork. Assume that her shop uses only labor as variable input into the production process.
Shivani runs a shop that sells custom made frames for artwork. Assume that her shop uses only labor as variable input into the production process. No frames are made when there are no workers. The average total cost (ATC) is $50 when 10 frames made. The marginal cost (MC) of the eleventh frame is $72. What is the ATC when eleven frames are produced?
Group of answer choices
$35
$50
$52
$72
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