If average fixed costs equal 60 and average total costs equal 120 ...

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If average fixed costs equal 60 and average total costs equal 120 when output is 100, the total variable cost must be:
 a. 40.
  b. 60.
  c. 6,000.
  d. 8,000.

Question 2

Which of the following is the significance of a country's price index?
 a. It helps in measuring changes in the nominal interest rate in a country.
 b. It helps in measuring the total disposable income of a country.
 c. It helps in determining a country's real GDP each year.
 d. It helps in measuring changes in the prices of only luxury goods.
 e. It helps in measuring the demand for goods and services exported by a country.

[nikmaaacs]

Answer to Question 1

c

Answer to Question 2

c

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Excellent

[epscape]

Thanks for the timely response, appreciate it