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-Refer to the Following Table

Question 117

Multiple Choice

 Total Fixed  Total Variable  Average  Average Variable Average  Marginal  Output  Cost  Cost  Total Cost  Fixed Cost  Cost  Total Cost  Cost 12$6003???$204$4405$500\begin{array}{lllllll}&\text { Total Fixed } & \text { Total Variable } & & \text { Average } & \text { Average Variable} & \text { Average }&\text { Marginal } \\\text { Output }&\text { Cost } & \text { Cost } & \text { Total Cost } & \text { Fixed Cost } & \text { Cost } & \text { Total Cost } & \text { Cost }\\1&-&-&-&-&-&-&-\\2&-&-&\$600&-&-&-&-\\3&-&-&-&-&???&-&\$20\\4&-&\$440&-&-&-&-&-\\5&\$500&-&-&-&-&-&-\end{array}
-Refer to the following table. What is the average variable cost of producing three (3) units of the good?


A) $80
B) $120
C) $40
D) $20
E) $420

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