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    average fixed cost

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    A firm is producing 100 units of output at a total cost of $800. The firm's average variable cost is $5 per unit. The firm's:

    a. marginal cost is $8.
    b. total variable cost is $300.
    c. average fixed cost is $3.
    d. average total cost is $500.

    You must show these math calculations.

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    Solution Summary

    The solution finds the average fixed costs.