Find the average variable cost for producing 18 sneakers. Round your answer to the nearest hundredth.

Question

03-07-2021
Business

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Find the average variable cost for producing 18 sneakers. Round your answer to the nearest hundredth.

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Parrain Parrain · Answer 1 · 2021-07-09T16:23:48+02:00

Parrain Parrain

09-07-2021

Answer: $2.78

Explanation:

Average variable cost is calculated by dividing the total variable cost of producing a certain number of units of a good by that same number of units.

Average variable cost = Variable cost of producing 18 sneakers / 18

= 50 / 18

= 2.7778

= $2.78

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