Answered: 2. A firm produces 200 units and total…

2. A firm produces 200 units and total cost of production is $4000. When they increase output to 220, the cost rises to $4 200. What is the average cost of producing 220 units?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section21.4: Costs Of Production: Total, Average, Marginal

Problem 1ST

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2. A firm produces 200 units and total cost of production is $4000. When they increase
output to 220, the cost rises to $4 200. What is the average cost of producing 220
units?

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