Please complete the table Find VC, AVC, ATC, and AFC Table 3.a.Cases ofTotal CostVariableAverageVariableAverageTotalAverageFixed CostLED lightCostsbulbsCostsCostsproduced inan hourа.b.с.d.$4,500n/an/an/aPage 3 of 5Unit 8 [BU224 Assignment Template]AverageVariableAverageTotalCostsCases ofTotal CostVariableAverageFixed CostLED lightbulbsCostsCostsproduced inan hourа.b.C.d.10$4,90020$5,10030$5,30040$5,40050$5,70060$6,70070$7,90080$9,70090$11,800

Answered: Please complete the table Find VC,…

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Economics

Please complete the table Find VC, AVC, ATC, and AFC

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

Please complete the table

Find VC, AVC, ATC, and AFC

Table 3.a.
Cases of
Total Cost
Variable
Average
Variable
Average
Total
Average
Fixed Cost
LED light
Costs
bulbs
Costs
Costs
produced in
an hour
а.
b.
с.
d.
$4,500
n/a
n/a
n/a
Page 3 of 5
Unit 8 [BU224 Assignment Template]
Average
Variable
Average
Total
Costs
Cases of
Total Cost
Variable
Average
Fixed Cost
LED light
bulbs
Costs
Costs
produced in
an hour
а.
b.
C.
d.
10
$4,900
20
$5,100
30
$5,300
40
$5,400
50
$5,700
60
$6,700
70
$7,900
80
$9,700
90
$11,800

Definition Definition Measure of the cost of production per unit of output, including only variable costs such as wages, materials, and utilities. AVC is calculated by dividing total variable cost by the number of units produced. Understanding average variable cost is important for businesses to make decisions on pricing, production levels, and profitability.

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