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You are given costs for a firm in the following table.
Quantity
Total Cost
Variable Cost
Fixed Cost
Marginal Cost
10
32.4
?
$10
11
48
12
25.7
From the information given, calculate the Average Variable Cost when the firm produces 12 units. Round your answer to one decimal.
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Two records are to be randomly selected one after the other from an accounts receivable portfolio. The selected records are then examined to see whether they contain any error.
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