Slider owns a hamburger restaurant. Slider's minimum average variable cost is $10 at a quantity of 100 hamburgers, and his minimum average total cost is $15 at a quantity of 200 hamburgers. His total fixed cost is $300. Use this information to answer the questions.**Question:** What is Slider's AVC when he sells 200 hamburgers?**Slider's AVC:** $ [______]**Question:** At a quantity of 250 hamburgers, the average total cost curve is:- ○ increasing.- ○ below average variable cost.- ○ not able to be calculated from the information given. Or, none of the other answers are correct.- ○ decreasing.

Given information: AVC at 100 hamburgers is $10, and AVC is the minimum at this point. ATC at 200…

minimum average total cost is $15 at a quantity of 200 hamburgers. His total fixed cost is $300. Use this information to the questions. What is Slider's AVC when he sells 200 hamburgers? Slider's AVC: $ At a quantity of 250 hamburgers, the average total cost curve is

minimum average total cost is $15 at a quantity of 200 hamburgers. His total fixed cost is $300. Use this information to the questions. What is Slider's AVC when he sells 200 hamburgers? Slider's AVC: $ At a quantity of 250 hamburgers, the average total cost curve is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.

Question

Slider owns a hamburger restaurant. Slider's minimum average variable cost is $10 at a quantity of 100 hamburgers, and his minimum average total cost is $15 at a quantity of 200 hamburgers. His total fixed cost is $300. Use this information to answer the questions.

**Question:** What is Slider's AVC when he sells 200 hamburgers?

**Slider's AVC:** $ [______]

**Question:** At a quantity of 250 hamburgers, the average total cost curve is:
- ○ increasing.
- ○ below average variable cost.
- ○ not able to be calculated from the information given. Or, none of the other answers are correct.
- ○ decreasing.

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