Graph the Average Total Costs, Average Variable Costs, and Marginal Costs on the same graph of the table below. # ofHamburg Variable Fixed Total AverageAverageVariable CostMarginalCostersCostsCosts Costs Total Cost$500$0.5 xxX1,0002,5004,0009,00013,00020,00045,000$5,000$5,000$5,000$5,500$6,000$6,400$7,400$6$1,000$1,400$2,400$3,400$10,000$31,250$2$0.4$0.3$2$0.4$0.3$5,000$5,000$1$0.3$0.2$8,400$15,000$1$0.3$0.3$5,000$1$1$0.9$5,000$36,250$1$0.7$0.9

The sum total of all production costs divided by the total quantity of output is known as the…

Hamburg Variable Fixed Total Average ers Average Variable Cost Marginal Cost Costs Costs Costs Total Cost 1,000 2,500 $6 $2 $500 $5,000 $5,000 $6,000 $6,400 $5,000 $5,000 $7,400 $5,000 $8,400 $5,000 $15,000 $5,000 $36,250 $5,500 $0.5 xxX $1,000 $1,400 $2,400 $3,400 $10,000 $31,250 $0.4 $0.3 $0.3 4,000 9,000 13,000 20,000 45,000 $2 $0.4 $1 $0.3 $0.2 $0.3 $1 $0.3 $1 $1 $09 $0.9 $1 $0.7

Hamburg Variable Fixed Total Average ers Average Variable Cost Marginal Cost Costs Costs Costs Total Cost 1,000 2,500 $6 $2 $500 $5,000 $5,000 $6,000 $6,400 $5,000 $5,000 $7,400 $5,000 $8,400 $5,000 $15,000 $5,000 $36,250 $5,500 $0.5 xxX $1,000 $1,400 $2,400 $3,400 $10,000 $31,250 $0.4 $0.3 $0.3 4,000 9,000 13,000 20,000 45,000 $2 $0.4 $1 $0.3 $0.2 $0.3 $1 $0.3 $1 $1 $09 $0.9 $1 $0.7

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Graph the Average Total Costs, Average Variable Costs, and Marginal Costs on the same graph of the table below.

# of
Hamburg Variable Fixed Total Average
Average
Variable Cost
Marginal
Cost
ers
Costs
Costs Costs Total Cost
$500
$0.5 xxX
1,000
2,500
4,000
9,000
13,000
20,000
45,000
$5,000
$5,000
$5,000
$5,500
$6,000
$6,400
$7,400
$6
$1,000
$1,400
$2,400
$3,400
$10,000
$31,250
$2
$0.4
$0.3
$2
$0.4
$0.3
$5,000
$5,000
$1
$0.3
$0.2
$8,400
$15,000
$1
$0.3
$0.3
$5,000
$1
$1
$0.9
$5,000
$36,250
$1
$0.7
$0.9

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