Quantity Total cost (in Taka) Average total cost Variable cost Average variable cost Marginal cost 4.0 1 9.0 12.0 17.0 4. 24.0 5 33.0 6. 44.0 (a) Calculate this firm's marginal cost for output level 5. Give your answer in 2-decimal places. (b) Calculate this firm's marginal cost for output level 6. Give your answer in 2-decimal places. (C) What is the average total cost at which, this firm reaches its break even-point? Give your answer in 2-decimal places. (d) What is the average variable cost at which, this firm reaches its shut-down point? Give your answer in 2-decimal places.
Quantity Total cost (in Taka) Average total cost Variable cost Average variable cost Marginal cost 4.0 1 9.0 12.0 17.0 4. 24.0 5 33.0 6. 44.0 (a) Calculate this firm's marginal cost for output level 5. Give your answer in 2-decimal places. (b) Calculate this firm's marginal cost for output level 6. Give your answer in 2-decimal places. (C) What is the average total cost at which, this firm reaches its break even-point? Give your answer in 2-decimal places. (d) What is the average variable cost at which, this firm reaches its shut-down point? Give your answer in 2-decimal places.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![A perfectly competitive firm has the following short-run total cost.
Quantity
Total cost (in Taka)
Average total cost
Variable cost
Average variable cost
Marginal cost
4.0
9.0
2
12.0
3
17.0
24.0
33.0
44.0
(a) Calculate this firm's marginal cost for output level 5.
Give your answer in 2-decimal places.
(b) Calculate this firm's marginal cost for output level 6.
Give your answer in 2-decimal places.
(C) What is the average total cost at which, this firm reaches its break even-point?
Give your answer in 2-decimal places.
(d) What is the average variable cost at which, this firm reaches its shut-down point?
Give your answer in 2-decimal places.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5b368cdf-4379-40a1-b80a-f91566568c1a%2F492cb347-6f36-41ca-ab53-cdcc35f2aab2%2Fbvq6h5p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A perfectly competitive firm has the following short-run total cost.
Quantity
Total cost (in Taka)
Average total cost
Variable cost
Average variable cost
Marginal cost
4.0
9.0
2
12.0
3
17.0
24.0
33.0
44.0
(a) Calculate this firm's marginal cost for output level 5.
Give your answer in 2-decimal places.
(b) Calculate this firm's marginal cost for output level 6.
Give your answer in 2-decimal places.
(C) What is the average total cost at which, this firm reaches its break even-point?
Give your answer in 2-decimal places.
(d) What is the average variable cost at which, this firm reaches its shut-down point?
Give your answer in 2-decimal places.
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