Firms average total costs and profits

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Suppose, a firm sells 20 flower arrangement at a price of $30 each. The firm faces total cost of $400, and marginal cost of $15. What are the firms average total costs and profits?

  • ATC = $ 20 and Profit = $100
  • ATC = $ 22.5 and Profit = $200
  • ATC = $ 22.5 and Profit = $100
  • ATC = $ 20 and Profit = $200

Reference no: EM131483584

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