Macmillan Learning Use your knowledge of cost functions to calculate the missed cost data in the accompanying table. Round your answers to two digits after the decimal. Quantity 0 1 2 3 4 total cost: $ Marginal cost $95.00 marginal cost: $ $30.00 What is the total cost when producing zero units? Fixed Variable cost cost $64.00 What is the marginal cost for the first unit? average total cost: $ Total Average fixed cost cost $380.00 What is the average total cost when producing three units? Average variable cost $40.00 Average total cost

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Use your knowledge of cost functions to calculate the missed cost data in the accompanying table.
Round your answers to two digits after the decimal.
Quantity
0
1
2
3
4
Marginal
cost
total cost: $
$95.00
$30.00
What is the total cost when producing zero units?
marginal cost: $
Fixed Variable
cost
cost
$64.00
What is the marginal cost for the first unit?
average total cost: $
Total
cost
$380.00
What is the average total cost when producing three units?
Average fixed
cost
===
Average
variable cost
111
$40.00
Average total
cost
Transcribed Image Text:O Macmillan Learning Use your knowledge of cost functions to calculate the missed cost data in the accompanying table. Round your answers to two digits after the decimal. Quantity 0 1 2 3 4 Marginal cost total cost: $ $95.00 $30.00 What is the total cost when producing zero units? marginal cost: $ Fixed Variable cost cost $64.00 What is the marginal cost for the first unit? average total cost: $ Total cost $380.00 What is the average total cost when producing three units? Average fixed cost === Average variable cost 111 $40.00 Average total cost
O Macmillan Learning
total cost: $
What is the marginal cost for the first unit?
marginal cost: $
What is the average total cost when producing three units?
average total cost: $
What is the average variable cost when producing four units?
average variable cost: $
Transcribed Image Text:O Macmillan Learning total cost: $ What is the marginal cost for the first unit? marginal cost: $ What is the average total cost when producing three units? average total cost: $ What is the average variable cost when producing four units? average variable cost: $
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