Figure: Short-Run CostsCost curves(dollars)$20015010050total costF:0 1 2 3Daverage total costaverage variable costmarginal costA4CPlease, look at the above figure, which represents short run costs curves. Curve Arepresents thecurve.B5 6 78 9 10 11Quantity of output (per day)

Average Total Cost: Total cost per unit of output. Average variable cost: Variable cost per unit of…

Figure: Short-Run Costs Cost curves (dollars) $200 150 100 50 total cost F: 0 1 2 3 average total cost average variable cost # C marginal cost Please, look at the above figure, which represents short run costs curves. Curve A represents the curve. E 4 B 5 6 7 8 9 10 11 Quantity of output (per day)

Figure: Short-Run Costs Cost curves (dollars) $200 150 100 50 total cost F: 0 1 2 3 average total cost average variable cost # C marginal cost Please, look at the above figure, which represents short run costs curves. Curve A represents the curve. E 4 B 5 6 7 8 9 10 11 Quantity of output (per day)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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es Output 6 1 2 3 4 5 S 6 17 8 9 Total Cost $ 2,500 3,416 4,040 4.480 4,900 5,220 5,540 6,310 7,328 9,718 2500 Total Variable Cost b. What is the value of total fixed cost? 6 units $ 0 units 910 1540 1980 2400 2720 3040 3810 4820 7210 Marginal Cost c. What is the most productive level of output? $ 910 630 440 420 320 320 770 1010 2390 Average Total Cost $ d. At what output is economic capacity? Output: e. If TFC doubled, what is the marginal cost of the 7th unit? 3410 2020 1493.33 1225 1044 923.33 901.42 915 1078.89 Average Variable Cost $ 910 770 660 600 544 506.67 544 29 6025 801.11 Average Fixed Cost 2500 1250 833.33 625 500 416.67 35713 312.5 27778
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