Answer the question on the basis of the following cost data. Output Average Fixed Cost 1 $ 50.00 2 3 A 5 6 • $0. . 25.00 16.67 . 12.50 10.00 8.37 7.14 Average Variable Cost $ 100.00 7 8 6.25 87.50 If the firm closed down in the short run and produced zero units of output, its total cost would be Multiple Choice $50. $150. $100. 80.00 66.67 65.00 68.00 73.33 80.00

Answer the question on the basis of the following cost data. Output Average Fixed Cost 1 $ 50.00 2 3 A 5 6 • $0. . 25.00 16.67 . 12.50 10.00 8.37 7.14 Average Variable Cost $ 100.00 7 8 6.25 87.50 If the firm closed down in the short run and produced zero units of output, its total cost would be Multiple Choice $50. $150. $100. 80.00 66.67 65.00 68.00 73.33 80.00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Similar questions

Diane's Donuts will begin selling donuts next week. Diane figures that the average variable cost to make each donut will be $0.25. She has paid $20,000 for the donut-making machinery and one year's rent. Refer to Situation 22-1. What will Diane's total variable costs be if she sells 34,500 donuts in one year? $10,950 $9,450 $8,625 $12,500 0 O
Question 8 Costs A firm's short-run cost function is C(q) = 10q - 12q² + O.5q³ + 400 %D 1. Find Fixed costs (F) 2. Find AVC 3. Find AC 4. Find MC 5. Find AFC.
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What would be the solution?
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Q18
For Bottlers Limited, the total cost of producing 4 water bottles is $200 and it increases to $210 for producing 5 water bottles. So, their average cost of producing 5 bottles is ________ while marginal cost is ___________. $40 and $10 $32 and $10 $32 and $20 $42 and $10
Answer the question on the basis of the following cost data. Average Fixed Average Variable Output Cost Cost 1 $ 50.00 $ 100.00 2 25.00 80.00 3 16.67 66.67 4 12.50 65.00 5:35 5 10.00 68.00 6 8.37 73.33 7 7.14 80.00 8 6.25 87.50 The marginal cost of the sixth unit of output is Multiple Choice О $440.00. $8.37.