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) 1 45 (C) $500 $600 (H). 4 1 60 (D) $500 $800 (). 1 70 (E) $500 $1000 efer to Exhibit 21-3. The total cost of producing 45 units of output is O a. $1,100. O b. $1,000. c. $900. d. $950. e. $1,050.

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) 1 45 (C) $500 $600 (H). 4 1 60 (D) $500 $800 (). 1 70 (E) $500 $1000 efer to Exhibit 21-3. The total cost of producing 45 units of output is O a. $1,100. O b. $1,000. c. $900. d. $950. e. $1,050.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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