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The Arizona Chronicle combines workers and printing presses to produce newspapers. The figure displays isoquants for the production of 10, 20, 30 and 40 units
The Arizona Chronicle combines workers and printing presses to produce newspapers. The figure displays isoquants for the production of 10, 20, 30 and 40 units of newspapers. Each worker costs $120 and a printing press costs $24.If fixed costs for the company amount to $300, at the cost-minimizing point, what is the average total cost of producing 30 newspapers?
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