Use the following to answer question:
-(Figure and Table: Variable,Fixed,and Total Costs)Use Figure and Table: Variable,Fixed,and Total Costs.When 51 bushels of wheat is produced,the average fixed cost is _____,average variable cost is _____,and average total cost is _____.
A)$7.84;$11.76;$19.60
B)$133.33;$200.00;$333.33
C)$400.00;$600.00;$1,000.00
D)$5.33;$13.33;$18.67

Question

Use the following to answer question: 
-(Figure and Table: Variable,Fixed,and Total Costs)Use Figure and Table: Variable,Fixed,and Total Costs.When 51 bushels of wheat is produced,the average fixed cost is _____,average variable cost is _____,and average total cost is _____.
A)$7.84;$11.76;$19.60 
B)$133.33;$200.00;$333.33 
C)$400.00;$600.00;$1,000.00 
D)$5.33;$13.33;$18.67

Quizplus · Accepted Answer

When 51 bushels of wheat is produced, the total fixed cost is $400, the total variable cost is $600, and the total cost is $1,000. The average fixed cost is $400/51 = $7.84, the average variable cost is $600/51 = $11.76, and the average total cost is $1,000/51 = $19.60.

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