(3) (2) (1) Output 10. In the above diagram curves 1, 2, and 3 represent: A. average variable cost, marginal cost, and average fixed cost respectively. B. variable cost, fixed cost, and total cost respectively. C. fixed cost, variable cost, and total cost respectively. D. marginal product, average variable cost, and average total cost respectively. Answer the next question(s) on the basis of the following cost data: Average Average Fixed Cost Variable Output $50.00 25.00 Cost $100.00 80.00 16.67 66.67 65.00 68.00 73,33 80.00 12.50 10.00 8.37 7.14 6.25 87.50 11. Refer to the above data. Total fixed cost is: A. $6.25. B. $100.00. C. $150.00. D. $50.00. 12. Refer to the above data. The average total cost of five units of output is: A. $69. B. $78. C. $3. D. $10. Costs

(3) (2) (1) Output 10. In the above diagram curves 1, 2, and 3 represent: A. average variable cost, marginal cost, and average fixed cost respectively. B. variable cost, fixed cost, and total cost respectively. C. fixed cost, variable cost, and total cost respectively. D. marginal product, average variable cost, and average total cost respectively. Answer the next question(s) on the basis of the following cost data: Average Average Fixed Cost Variable Output $50.00 25.00 Cost $100.00 80.00 16.67 66.67 65.00 68.00 73,33 80.00 12.50 10.00 8.37 7.14 6.25 87.50 11. Refer to the above data. Total fixed cost is: A. $6.25. B. $100.00. C. $150.00. D. $50.00. 12. Refer to the above data. The average total cost of five units of output is: A. $69. B. $78. C. $3. D. $10. Costs

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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