If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25, what is its total fixed cost?

a. $650
b. $1,000
c. $200
d. $320


d

Economics

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If you have a choice between consuming bundle X or bundle Y, the opportunity cost of consuming bundle X is bundle Y

a. True b. False Indicate whether the statement is true or false

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