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# Use the following scenario to answer the questions that follow. Steve owns a bike store. His total costs are \$1.

Use the following scenario to answer the questions that follow.

Steve owns a bike store. His total costs are \$1.2 million per year, his variable costs are \$750,000, and his fixed costs are \$450,000 per year. Last year, Steve sold 1,200 bikes.

Steve's average total cost was __________ per bike.

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