-Refer to Figure 8.3.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 8.3.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. In this case, without the specific figure (Figure 8.3) provided, the correct answer cannot be directly determined from the information given in the question. However, based on the options provided and assuming the question is designed to test understanding of calculating average cost, the correct answer is likely based on a standard calculation or an example from a common economics textbook or principle. Since the specific details from Figure 8.3 are not available, the answer C) $8.62 is chosen based on the assumption that it represents a plausible average cost calculation for producing 290 units of output in a hypothetical or illustrative scenario.