The below figure shows the various combinations of the goods X and Y that yield different levels of utility.Figure 7.3

-Assume that for 20 bicycles, the total fixed cost is $100 and the total variable cost is $300. Then the average fixed cost and the average variable cost are:
A) $5 and $10 respectively.
B) $5 and $15 respectively.
C) $10 and $15 respectively.
D) $15 and $10 respectively.
E) $10 and $5 respectively.
Correct Answer:
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Q17: The below figure shows the various combinations
Q18: The below figure shows the various combinations
Q19: The below figure shows the various combinations
Q20: The below figure shows the various combinations
Q21: The figure given below shows cost curves
Q23: The below figure shows the various combinations
Q24: The figure given below shows cost curves
Q25: The figure given below shows the average
Q26: The figure given below shows cost curves
Q27: The following table shows the cost of
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