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For questions 4 - 5 use the following information. The company 'High Fidelity' can produce 40 high quality turntables per day at an average total
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Question

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For questions 4 - 5 use the following information.
The company “High Fidelity” can produce 40 high quality turntables per day at an average total cost of $100
per turntable. The marginal cost function is MC(Q) = 2.5 - Q. 4. What is the total cost to produce 40 high quality turntables per day?
A. $100
B. $400
C. $1000
D. $4000
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For questions 4 - 5 use the following information.
The company “High Fidelity” can produce 40 high quality turntables per day at an average total cost of $100
per turntable. The marginal cost function is MC(Q) = 2.5 - Q. 5. At Q = 40, the Average Total Cost is (select the armver choice that completes the sentence)
A. less than the average variable cost
equal to the average variable cost greater than the average variable cost POP“ not comparable to the average variable cost

Step-by-step answer

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Subject: Business, Economics

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