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Situation 22-3Gizmos, Inc. produces gizmos at an average total cost of $15 and an average variable ...

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Situation 22-3Gizmos, Inc. produces gizmos at an average total cost of $15 and an average variable ...

Situation 22-3

Gizmos, Inc. produces gizmos at an average total cost of $15 and an average variable cost of $12. The only fixed input used in the production of gizmos costs $240.

Refer to Situation 22-3. What are the total variable costs?

▸

$1,200

▸

$2,400

▸

$840

▸

$960

▸

There is not enough information to answer the question.

Textbook

Economics

Edition: 12^th

Author: Arnold

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