2. Below is the table of an information a firm.OutputAFC, $AVC, $150.00100.00225.0080.00316.6766.67412.5065.0010.0068.0068.3773.3377.1480.0086.2587.50Answer the following questions? d. If the firm closes down and produces no output, what will be its total cost?e. If the firm decides to increase its output from 6 to 7 units, by how much will its total cost increase?

Total Cost is the sum total of Total Variable Cost and Total Fixed Cost. It denotes the total cost…

Answered: d. If the firm closes down and produces…

d. If the firm closes down and produces no output, what will be its total cost? e. If the firm decides to increase its output from 6 to 7 units, by how much will its total cost increase?

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

2. Below is the table of an information a firm.
Output
AFC, $
AVC, $
1
50.00
100.00
2
25.00
80.00
3
16.67
66.67
4
12.50
65.00
10.00
68.00
6
8.37
73.33
7
7.14
80.00
8
6.25
87.50
Answer the following questions?

d. If the firm closes down and produces no output, what will be its total cost?
e. If the firm decides to increase its output from 6 to 7 units, by how much will its total cost increase?

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