4. Firm's Costs Your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for variable costs: Quantity Variable Cost Average Fixed Cost Average Variable Cost Average Total Cost (Houses Painted per Month) (Dollars) (Dollars) (Dollars) (Dollars) 1 10 2 20 3 40 4 80 160 320 7 640 The efficient scale is houses.

4. Firm's Costs Your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for variable costs: Quantity Variable Cost Average Fixed Cost Average Variable Cost Average Total Cost (Houses Painted per Month) (Dollars) (Dollars) (Dollars) (Dollars) 1 10 2 20 3 40 4 80 160 320 7 640 The efficient scale is houses.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4. Firm's Costs
Your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for variable costs:
Quantity
Variable Cost
Average Fixed Cost Average Variable Cost Average Total Cost
(Houses Painted per Month)
(Dollars)
(Dollars)
(Dollars)
(Dollars)
1
10
2
20
3
40
4
80
160
320
7
640
The efficient scale is
houses.

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