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      Question

      A firmтАЩs total fixed cost is 500. When output is 50

      units, the total variable cost is 1000. What is the Average Total Cost (ATC) at 50 units?
      A 10 Correct Answer Incorrect Answer
      B 20 Correct Answer Incorrect Answer
      C 30 Correct Answer Incorrect Answer
      D 50 Correct Answer Incorrect Answer

      Solution

      TC = TFC + TVC = 500 + 1000 = 1500. ATC = TC / Q = 1500 / 50 = 30.

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