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e. If TFC doubled, what is the marginal cost of the 8th unit? Marginal cost: $

e. If TFC doubled, what is the marginal cost of the 8th unit? Marginal cost: $

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The table below shows some of the costs of production for a the Clean-Cut Chain Saws manufacturing company: a) Complete the table. Round your answers to nearest whole numbers. Total Variable Cost Average Average Total Cost Average Fixed Cost Output Total Cost Marginal Cost Variable Cost $ 2,100 24 3,00e 900 3000 900 2100 006 1900 1467 3,800 1700 800 850 1050 2300 767 675 700 525 3 4,400 600 4, 800 2700 400 1200 4 5 5,190 3000 300 1020 600 420 5,400 3300 300 900 550 350 6,000 3900 600 857 557 300 6,700 4600 700 838 575 263 9 7,500 5400 800 833 600 233 b. What is the value of total fixed cost? 2100 c. What is the most productive level of output? 6 units d. At what output is economic capacity? Output: units e. If TFC doubled, what is the marginal cost of the 8th unit? Marginal cost: $
Transcribed Image Text:The table below shows some of the costs of production for a the Clean-Cut Chain Saws manufacturing company: a) Complete the table. Round your answers to nearest whole numbers. Total Variable Cost Average Average Total Cost Average Fixed Cost Output Total Cost Marginal Cost Variable Cost $ 2,100 24 3,00e 900 3000 900 2100 006 1900 1467 3,800 1700 800 850 1050 2300 767 675 700 525 3 4,400 600 4, 800 2700 400 1200 4 5 5,190 3000 300 1020 600 420 5,400 3300 300 900 550 350 6,000 3900 600 857 557 300 6,700 4600 700 838 575 263 9 7,500 5400 800 833 600 233 b. What is the value of total fixed cost? 2100 c. What is the most productive level of output? 6 units d. At what output is economic capacity? Output: units e. If TFC doubled, what is the marginal cost of the 8th unit? Marginal cost: $
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