Assume firm is currently producing

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Reference no: EM131096284

Assume a firm is currently producing 500 units of output, total costs are $24,000, and average fixed costs are $6. Based on this information we can conclude, with certainty, that the firm's:

a) marginal costs are $48.

b) total fixed costs are $21,000.

c) average total costs are $54.

d) average variable costs are $42

Reference no: EM131096284

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