Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 18PAE
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Question
Please help with my questions and on image ECO PT1 I need help with just c, d, and e. Thank you! I will give thumbs up if someone helps with my questions! :)
![Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially.
Instructions: Enter your answers as a whole number. If you are entering any numbers in thousands, such as "1000," do not use a
comma separator in your answer.
Average
Marginal
Product
Labor
Total Output
Product
10
1,000
100
100
20
4,000
300
30
300
500
40
16,000
400
50
500
900
60
36,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8a40a94c-82c6-4805-b53b-d81896553f3b%2F6d3d70fb-b67e-495b-a357-c2aa6f3b9345%2Fkvlqha9_processed.png&w=3840&q=75)
Transcribed Image Text:Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially.
Instructions: Enter your answers as a whole number. If you are entering any numbers in thousands, such as "1000," do not use a
comma separator in your answer.
Average
Marginal
Product
Labor
Total Output
Product
10
1,000
100
100
20
4,000
300
30
300
500
40
16,000
400
50
500
900
60
36,000
![Given the cost information below, answer the following questions.
Output
Total Cost
$10.00
1
19.76
2
29.06
3
37.90
4
46.31
5
54.30
Instructions: Enter your answers rounded to two decimal places.
a. When output is 1, total variable cost is $
b. When output is 2, average fixed cost is $
c. When output is 3, average variable cost is $
d. When output is 4, average total cost is $
e. When output is 5, marginal cost is $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8a40a94c-82c6-4805-b53b-d81896553f3b%2F6d3d70fb-b67e-495b-a357-c2aa6f3b9345%2Ffpargu9_processed.png&w=3840&q=75)
Transcribed Image Text:Given the cost information below, answer the following questions.
Output
Total Cost
$10.00
1
19.76
2
29.06
3
37.90
4
46.31
5
54.30
Instructions: Enter your answers rounded to two decimal places.
a. When output is 1, total variable cost is $
b. When output is 2, average fixed cost is $
c. When output is 3, average variable cost is $
d. When output is 4, average total cost is $
e. When output is 5, marginal cost is $
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