The diagram shows a firm's total cost (TC) curve. What is the average variable cost if the firm produces an output of $$\(O Q ?\)$$
A.
\(\frac{\mathrm{OX}}{\mathrm{OQ}}\)
B.
\(\frac{\mathrm{OW}}{\mathrm{OQ}}\)
C.
\(\frac{\mathrm{WX}}{\mathrm{OQ}}\)
D.
\(\frac{\mathrm{WY}}{\mathrm{OQ}}\)
Exam No：0455_m21_qp_12 Year：2021 Question No：12
Answer:
C
Knowledge points:
3.7.2 calculation of costs of production: Definition, drawing and interpretation of diagrams that show how changes in output affect costs of production.
Solution:
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