Table Cost.EX2: Costs and Outputsfor aCompetitive FirmTotalTotalOutputFixedVariableTotal(Q)CostsCostsCosts$100.00$0.00$100.001$100.00$70.00$170.002$100.00$120.00$220.003.$100.00$150.00$250.00$100.00$200.00$300.00$100.00$260.00$360.00Refer to Table Cost.EX2. At 4 units of output, average variable cost (AVC) and averagetotal cost (ATC) areandrespectively.O $50.00; $83.33O $50.00; $75.00

please find the explained answer below.

Competitive Firm Total Total Output Fixed Variable Total (Q) Costs Costs Costs $100.00 $0.00 $100.00 1 $100.00 $70.00 $170.00 $100.00 $120.00 $220.00 $100.00 $150.00 $250.00 $100.00 $200.00 $300.00 $100.00 $260.00 $360.00 Refer to Table Cost.EX2. At 4 units of output, average variable cost (AVC) and average total cost (ATC) are and respectively. $50.00; $83.33 O $50.00; $75.00

Competitive Firm Total Total Output Fixed Variable Total (Q) Costs Costs Costs $100.00 $0.00 $100.00 1 $100.00 $70.00 $170.00 $100.00 $120.00 $220.00 $100.00 $150.00 $250.00 $100.00 $200.00 $300.00 $100.00 $260.00 $360.00 Refer to Table Cost.EX2. At 4 units of output, average variable cost (AVC) and average total cost (ATC) are and respectively. $50.00; $83.33 O $50.00; $75.00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Tåble Cost.EX2: Costs and Outputs for a Competitive Firm Total Total Output Fixed Variable (Q) Costs Costs 0. $50.00 $0.00 1 $50.00 $70.00 $50.00 $120.00 $50.00 $150.00 4 $50.00 $220.00 $50.00 $300.00 Refer to Table Cost.EX2. When production is 3 units, the firm's average total cost is'about O $66.67 $68.67 No answer text provided. O No answer text provided.
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