The only variable input used in producing bicycles in a small factory is labor. Currently four workers are employed; each works 40 hours per week and is paid $10 per hour. If fixed cost is $2,000 per week and total output is 10 bicycles per week, average cost is:
A. $260.
B. $160.
C. $360.
D. $200.
Answer: C
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a. True b. False Indicate whether the statement is true or false
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Answer the following statement true (T) or false (F)
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