Output Total Cost 0 $24 1 $ 33 2 $41 3 $48 4 $54 5 in $61 6 $69 Refer to the above table. The average total cost of producing 3 units of output is: Formula: ATC = TC÷Q O $16.00 ○ $14.00 $12.00 O $13.50
Output Total Cost 0 $24 1 $ 33 2 $41 3 $48 4 $54 5 in $61 6 $69 Refer to the above table. The average total cost of producing 3 units of output is: Formula: ATC = TC÷Q O $16.00 ○ $14.00 $12.00 O $13.50
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Output
Total Cost
0
$24
1
$ 33
2
$41
3
$48
4
$54
5
in
$61
6
$69
Refer to the above table. The average total cost of producing 3 units of output is:
Formula: ATC = TC÷Q
O $16.00
○ $14.00
$12.00
O $13.50
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