<span>June 23 is the 174th day of a non-leap year. 174 is 48.3% of 360, therefore George should pay 48.3% of $2,345 to the Government. The government thus owes George, and should credit him 51.7% of $2345, which amounts to $1212.37</span>
Answer:
c. short-run average total cost is typically above long-run average total cost
Explanation:
In the case when the average of the total cost of the short run should be compared with the average of the total cost of the long run for a given output level so this means that the average of the total cost of the short run should be more than the average of the total cost of the long run
Therefore as per the given situation, the option c is considered
Answer:
$3.389
Explanation:
Data provided as per the question below
Fixed cost = $300,000
Variable cost = $200,000
Total cost = $500,000
Units produced = 59,000
The computation of variable cost per unit is shown below:-
Variable cost per unit = Variable cost ÷ Units produced
= $200,000 ÷ 59,000
= $3.389
Therefore we applied the above formula.
