Question: Consider the cost function given in the graph below. Which statement best describes the fixed and variable costs of this function? $ C(q) 300 200

 Consider the cost function given in the graph below. Which statement

Consider the cost function given in the graph below. Which statement best describes the fixed and variable costs of this function? $ C(q) 300 200 100 9 5 10 15 20 25 30 The fixed costs are approximately $75 and the variable cost is approximately $7.50 O The fixed costs are approximately $50 and the variable cost is approximately $5.50 The fixed costs are approximately $75 and the variable cost is approximately $15 O The fixed costs are approximately $75 and the variable cost is approximately $2.50

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