Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Please help with part e. thank you! :)
![Given the cost information below, answer the following questions.
Output
Total Cost
$10.00
1
19.76
29.06
37.90
4
46.31
54.30
Instructions: Enter your answers rounded to two decimal places.
a. When output is 1, total variable cost is $
9.76
b. When output is 2, average fixed cost is $
5
c. When output is 3, average variable cost is $
9.30
d. When output is 4, average total cost is $
11.57
e. When output is 5, marginal cost is $
7.97](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd189a41b-e333-44f1-bba0-634d6683eed8%2Fd8b9e2cf-84de-4f52-80d5-d8c22dc04a99%2F7z4zdko_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
29.06
37.90
4
46.31
54.30
Instructions: Enter your answers rounded to two decimal places.
a. When output is 1, total variable cost is $
9.76
b. When output is 2, average fixed cost is $
5
c. When output is 3, average variable cost is $
9.30
d. When output is 4, average total cost is $
11.57
e. When output is 5, marginal cost is $
7.97
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