Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![In the table, the average variable cost at 2 units of output is:
| Output (balloons per hour) | Total Cost (dollars per hour) |
|----------------------------|-------------------------------|
| 0 | $4.00 |
| 1 | $7.00 |
| 2 | $8.00 |
| 3 | $12.50 |
| 4 | $17.20 |
| 5 | $22.00 |
| 6 | $29.00 |
Multiple choice options:
- A. $1.00
- B. $2.00
- C. $4.00
- D. $4.80](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fae5457a3-ede1-4374-a114-d02aa39e6df5%2Fb6875ec5-adb2-48d3-8cee-ffab6c989a79%2Fp7970cl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In the table, the average variable cost at 2 units of output is:
| Output (balloons per hour) | Total Cost (dollars per hour) |
|----------------------------|-------------------------------|
| 0 | $4.00 |
| 1 | $7.00 |
| 2 | $8.00 |
| 3 | $12.50 |
| 4 | $17.20 |
| 5 | $22.00 |
| 6 | $29.00 |
Multiple choice options:
- A. $1.00
- B. $2.00
- C. $4.00
- D. $4.80
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