Use the table below to answer the following questions.
Table 11.2.3 
-Refer to Table 11.2.3 which gives the total cost schedule for Brenda's Balloon Shop,a perfectly competitive firm.The average variable cost of producing the 1st balloon is
A) $1.00.
B) $4.00.
C) $2.00.
D) $4.80.
E) $3.00.
Correct Answer:
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