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5 Homework 6 i oints 1 Costs (dollars per unit อวบ 600 550 500 450 400 350 300 250 Print 200 0 1 2 3 4 5 Output (units per day) c. At what output rate is average total cost minimized? units Saved Help < Prev 1 of 4 Next > a. Complete the following cost schedule by computing marginal cost, average fixed cost, average variable cost, and average total cost. Instructions: Round your responses to the nearest whole number. Rate of Total Cost Output Marginal Cost Average Average Fixed Cost Variable Cost Total Cost Average 0 $600 -- 1 800 $ 200 $ 600 $ 200 $ 800 2 1,050 $ 250 $ 300 $ 225 $ 525 3 1,400 $ 350 $ 200 $ 267 $ 467 4 1,800 $ 400 $ 150 $ 300 $ 450 5 2,300 $ 500 $ 120 $ 340 $ 460 b. Use the cost data to plot the average total cost (ATC) and marginal cost (MC) curves on a graph. Instructions: Use the tools provided 'ATC' and 'MC' to draw each curve point by point (plot 5 points total for each curve). Round your points for ATC up to the nearest $25 Q Search Prev 1 of 4 Next > L с 3/

5 Homework 6 i oints 1 Costs (dollars per unit อวบ 600 550 500 450 400 350 300 250 Print 200 0 1 2 3 4 5 Output (units per day) c. At what output rate is average total cost minimized? units Saved Help < Prev 1 of 4 Next > a. Complete the following cost schedule by computing marginal cost, average fixed cost, average variable cost, and average total cost. Instructions: Round your responses to the nearest whole number. Rate of Total Cost Output Marginal Cost Average Average Fixed Cost Variable Cost Total Cost Average 0 $600 -- 1 800 $ 200 $ 600 $ 200 $ 800 2 1,050 $ 250 $ 300 $ 225 $ 525 3 1,400 $ 350 $ 200 $ 267 $ 467 4 1,800 $ 400 $ 150 $ 300 $ 450 5 2,300 $ 500 $ 120 $ 340 $ 460 b. Use the cost data to plot the average total cost (ATC) and marginal cost (MC) curves on a graph. Instructions: Use the tools provided 'ATC' and 'MC' to draw each curve point by point (plot 5 points total for each curve). Round your points for ATC up to the nearest $25 Q Search Prev 1 of 4 Next > L с 3/

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please make sure to answer part C
5 Homework 6 i oints 1 Costs (dollars per unit อวบ 600 550 500 450 400 350 300 250 Print 200 0 1 2 3 4 5 Output (units per day) c. At what output rate is average total cost minimized? units Saved Help < Prev 1 of 4 Next >
Transcribed Image Text:5 Homework 6 i oints 1 Costs (dollars per unit อวบ 600 550 500 450 400 350 300 250 Print 200 0 1 2 3 4 5 Output (units per day) c. At what output rate is average total cost minimized? units Saved Help < Prev 1 of 4 Next >
a. Complete the following cost schedule by computing marginal cost, average fixed cost, average variable cost, and average total cost. Instructions: Round your responses to the nearest whole number. Rate of Total Cost Output Marginal Cost Average Average Fixed Cost Variable Cost Total Cost Average 0 $600 -- 1 800 $ 200 $ 600 $ 200 $ 800 2 1,050 $ 250 $ 300 $ 225 $ 525 3 1,400 $ 350 $ 200 $ 267 $ 467 4 1,800 $ 400 $ 150 $ 300 $ 450 5 2,300 $ 500 $ 120 $ 340 $ 460 b. Use the cost data to plot the average total cost (ATC) and marginal cost (MC) curves on a graph. Instructions: Use the tools provided 'ATC' and 'MC' to draw each curve point by point (plot 5 points total for each curve). Round your points for ATC up to the nearest $25 Q Search Prev 1 of 4 Next > L с 3/
Transcribed Image Text:a. Complete the following cost schedule by computing marginal cost, average fixed cost, average variable cost, and average total cost. Instructions: Round your responses to the nearest whole number. Rate of Total Cost Output Marginal Cost Average Average Fixed Cost Variable Cost Total Cost Average 0 $600 -- 1 800 $ 200 $ 600 $ 200 $ 800 2 1,050 $ 250 $ 300 $ 225 $ 525 3 1,400 $ 350 $ 200 $ 267 $ 467 4 1,800 $ 400 $ 150 $ 300 $ 450 5 2,300 $ 500 $ 120 $ 340 $ 460 b. Use the cost data to plot the average total cost (ATC) and marginal cost (MC) curves on a graph. Instructions: Use the tools provided 'ATC' and 'MC' to draw each curve point by point (plot 5 points total for each curve). Round your points for ATC up to the nearest $25 Q Search Prev 1 of 4 Next > L с 3/
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