Correct Answer: Option B

Explanation

The Average Cost is the per unit cost of production obtained by dividing the total cost (TC) by the total output (Q). Thus we have;
Average cost = Total cost ÷ Total output(quantity)

Total cost = fixed cost + variable cost

Average cost = 500 + 1500 ÷ 50
2000 ÷ 50 = 40

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