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(Solved): If average fixed cost (AFC) equals $80 and average total cost (ATC) equals $120 when output (q) is 1 ...
If average fixed cost (AFC) equals $80 and average total cost (ATC) equals $120 when output (q) is 100, the total variable cost (TVC) must be
a. $40.
b. $80.
c. $4,000.
d. $8,000.