-Refer to Figure above. What is the average cost of producing 290 units of output?
A) $9
B) $2500
C) $8.62
D) $7.77

Question

-Refer to Figure above. What is the average cost of producing 290 units of output?
A) $9 
B) $2500 
C) $8.62 
D) $7.77

Quizplus · Accepted Answer

The average cost of producing a certain quantity of output is calculated by dividing the total cost by the quantity of output produced. Without the specific figure mentioned, we can't calculate the exact value directly from the question. However, given the options and assuming the question intends for us to select the most plausible answer based on typical economic principles, $8.62 (option C) seems to be a reasonable average cost per unit for producing 290 units, as it is the only option provided that represents a cost per unit format. Options A and D also represent costs per unit but are not chosen based on the information provided. Option B represents a total cost, not an average cost per unit, making it incorrect for this question.

-Refer to Figure Above