Answered: PProblem 3-Page (174): The following…

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

The following table gives you information on the total cost of Mac’s ice cream production:

b. Compute the average total cost at each level of output.

c. Compute the marginal cost at each level of output.

d. At which level of output does the average total cost start increasing? Explain the increasing average total cost and its relationship with the marginal cost.

PProblem 3-Page (174):
The following table gives you information on the total cost of Mac's ice cream production:
Quantity of Ice
Cream (liter)
0
10
20
30
40
50
60
Total Cost
$50
$90
$110
$140
$190
$260
$350
b. Compute the average total cost at each level of output.

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how Marginal cost been calculated here. {MC=Change in ATC/Change in Q}

please explian still not clear!!

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