Help with microeconomic homework please?
Two car manufacturers, Saab and Volvo, have fixed costs of $1 billion and marginal costs of $15,000 per car. If Saab produces 200,000 cars per year and Volvo produces 100,000 cars per year, calculate the average production cost for each company.
Average production cost for Saab: $
Average production cost for Volvo: $
Average production cost for Saab: $
Average production cost for Volvo: $
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