Directions: A competitive firm sells his product at market price of Rs. 51 per unit. The fixed cost ….

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  • 04/25/2019 at 2:54 pm #618568 Reply
     EduGorilla 
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    Directions: A competitive firm sells his product at market price of Rs. 51 per unit. The fixed cost is Rs. 300 and variable cost for different levels of production are shown in the following table. Use table to answer the question.

    Quantity Variable cost (in Rs.) Fixed cost Total Cost AVC ATC MC
    0
    10
    20
    30
    40
    50    		 0
    470
    980
    1850
    3400
    5950


    When production is 30 units, the average variable cost (in Rs.) is

    Options :-

    1. 70.6
    2. 60.6
    3. 61.6
    4. 71.6
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