Exhibit 21-3 Marginal Physical Total Total Product of Variable Marginal Variable Fixed Input Input Variable Input Fixed Cost Cost Cost Output (units) (units)| (units) (units) (dollars) (dollars) (dollars) 1 $500 $0 1 1 10 (A) $500 $200 (F) 2 1 25 (B) $500 $400 (G) 3 1 45 (C). $500 $600 (H). 4 1 60 (D) $500 $800 () 5 1 70 (E) $500 $1000 (). efer to Exhibit 21-3. The average fixed cost of producing 25 units of output is a. indeterminable with the information given. b. $50.00. O c. $2.50. O d. $20.00. e. $500.00.

Exhibit 21-3 Marginal Physical Total Total Product of Variable Marginal Variable Fixed Input Input Variable Input Fixed Cost Cost Cost Output (units) (units)| (units) (units) (dollars) (dollars) (dollars) 1 $500 $0 1 1 10 (A) $500 $200 (F) 2 1 25 (B) $500 $400 (G) 3 1 45 (C). $500 $600 (H). 4 1 60 (D) $500 $800 () 5 1 70 (E) $500 $1000 (). efer to Exhibit 21-3. The average fixed cost of producing 25 units of output is a. indeterminable with the information given. b. $50.00. O c. $2.50. O d. $20.00. e. $500.00.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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