Situation 21-3
Gizmos, Inc. produces gizmos at an average total cost of $22 and an average variable cost of $14. The only fixed input used in the production of gizmos costs $32,000.
Refer to Situation 21-3. What are the total costs?
A) $88,000
B) $2,400
C) $32,000
D) $56,000
E) There is not enough information to answer the question.
Correct Answer:
Verified
Q118: Exhibit 21-4 Q119: Exhibit 21-3 Q120: Exhibit 21-3 Q121: Minimum efficient scale refers to the Q122: Situation 21-3 Q124: Economies of scale refer to Q125: Exhibit 21-9 Q126: Exhibit 21-8 Q127: Situation 21-2 Alejandro is one of the Q128: Exhibit 21-7 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
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A)minimum size
Gizmos, Inc. produces gizmos at an
A)the minimum point![]()
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