Use the following scenario to answer the following questions:
Kareem 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,Kareem sold 1,200 bikes.
-Kareem's average fixed cost was ________ per bike.
A) $600
B) $625
C) $1,000
D) $2,000
E) $375
Correct Answer:
Verified
Q90: When output is 100 units,the firm's total
Q91: Igor owns a movie theater.His total costs
Q92: Use the following scenario to answer the
Q93: A firm's short-run cost curves show us
A)
Q94: When the average total cost curve is
Q96: The full set of short-run cost curves
Q97: Which of the following is the best
Q98: Selene owns a craft store.Her total costs
Q99: Use the following scenario to answer the
Q100: Vanessa owns a horse ranch.Her total costs
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