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22 July, 02:40

Calvin is a college student who has identified the need his fellow students have for transportation to and from a nearby store. He owns a van that can carry four people in addition to himself; he pays $50 insurance costs per month. He has calculated that his cost of transporting his fellow students will be $2.50 per student per round-trip ride, assuming he has a full van. Given this information, which statement is correct, assuming Calvin has a full van?

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  1. 22 July, 02:52
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    Calvin's marginal cost is constant at $2.50; Calvin's average variable cost is constant at $2.50.
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