Economics 0455 · IGCSE · Firms’ costs, revenue and objectives

Firms’ costs, revenue and objectives — practice question

The diagram illustrates a firm’s total cost (TC) curve. What is the average variable cost when the firm produces an output of $OQ$?

  • A$\frac{OX}{OQ}$
  • B$\frac{OW}{OQ}$
  • C$\frac{WX}{OQ}$
  • D$\frac{WY}{OQ}$

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