Please answer questions 13 to 17. Average AverageFixedVariableOutput1CostCost$50.00$100.0025.0080.00316.6766.67412.5065.0010.0068.008.3773.3377.1480.0086.2587.50 В. $78.С. $3.D. $10.13. Refer to the above data. The total cost offour units of output is:A. $260.B. $77.50.C. $310.D. $215.14. Refer to the above data. If the firm shutdown and produced zero units of output, its totalcost would be:A. zero.В. $50.C. $150.D. $100.15. Refer to the above data. The marginal costof the fifth unit of output is:A. $3.В. $62.C. $80.D. $78.16. Refer to the above data. The marginal costcurve would intersect the average variable costcurve at about:A. 2 units of output.B. 4 units of output.C. 6 units of output.D. 7 units of output.17. Refer to the above data. If the firm decidedto increase its output from 6 to 7 units, its totalcosts would rise by:A. $87.14.B. $80.00.C. $6.67.D. $120.00.

Cost refers to the all the expenses and expenditure that incur in a process of production of goods…

Answered: Average Average Fixed Variable Output 1…

Average Average Fixed Variable Output 1 Cost Cost $50.00 25.00 $100.00 2 80.00 3 16.67 66.67 4 12.50 65.00 5 10.00 68.00 6 8.37 73.33 7 7.14 80.00 8 6.25 87.50

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please answer questions 13 to 17.

Average Average
Fixed
Variable
Output
1
Cost
Cost
$50.00
$100.00
25.00
80.00
3
16.67
66.67
4
12.50
65.00
10.00
68.00
8.37
73.33
7
7.14
80.00
8
6.25
87.50

В. $78.
С. $3.
D. $10.
13. Refer to the above data. The total cost of
four units of output is:
A. $260.
B. $77.50.
C. $310.
D. $215.
14. Refer to the above data. If the firm shut
down and produced zero units of output, its total
cost would be:
A. zero.
В. $50.
C. $150.
D. $100.
15. Refer to the above data. The marginal cost
of the fifth unit of output is:
A. $3.
В. $62.
C. $80.
D. $78.
16. Refer to the above data. The marginal cost
curve would intersect the average variable cost
curve at about:
A. 2 units of output.
B. 4 units of output.
C. 6 units of output.
D. 7 units of output.
17. Refer to the above data. If the firm decided
to increase its output from 6 to 7 units, its total
costs would rise by:
A. $87.14.
B. $80.00.
C. $6.67.
D. $120.00.

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