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5) If AVC = 20 & ATC = 25, then what is AFC? %3D %3D 6) If a firm produces 100 uunits of output and has an avera

5) If AVC = 20 & ATC = 25, then what is AFC? %3D %3D 6) If a firm produces 100 uunits of output and has an avera

Economics (MindTap Course List)
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section: Chapter Questions
Problem 10QP
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4) A firm sees TC of $8 when they produce 1 unit, and a TC of $12 when they produce two units. What is the MC when they produce two units? 5) If AVC = 20 & ATC = 25, then what is AFC? 6) If a firm produces 100 units of output and has an average total cost of $6 then what is their total cost? %3D %D
Transcribed Image Text:4) A firm sees TC of $8 when they produce 1 unit, and a TC of $12 when they produce two units. What is the MC when they produce two units? 5) If AVC = 20 & ATC = 25, then what is AFC? 6) If a firm produces 100 units of output and has an average total cost of $6 then what is their total cost? %3D %D
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