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Calculate the Average Variable Cost (AVC) given Total Variable Costs (TVC) of R4100 and a quantity produced of 100 products.
Economics
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3.8
Step 1: Recall the total variable costs (TVC) for Ms Sihle's business from the previous question (3.4).
The total variable costs (TVC) were .
Step 2: Identify the quantity produced.
The quantity produced is 100 products.
Step 3: State the formula for Average Variable Cost (AVC).
Step 4: Substitute the values and calculate.
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