Doreenâs Dairy produces and sells Swiss cheese. Last year, it produced 7,000 pounds and sold each pound for $6. In producing the 7,000 pounds, the dairy incurred variable costs of $28,000 and a total cost of $40,000.
Refer to Scenario 13-19.
In producing the 7,000 pounds of cheese, the firm's average fixed cost was
a. $0.29.
b. $6.00.
c. $1.71.
d. $2,00.
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