Quantity Total Cost Marginal Cost 0 $ 200 1 900 2 $900 3 3,000 a) In Exhibit 11, by filling in the blanks it can be determined that the fixed costs are: b) In Exhibit 11, by filling in the blanks it can be determined that the total cost of the second unit of output is: c) In Exhibit 11, by filling in the blanks it can be determined that the marginal cost of the first unit of output is:
Quantity Total Cost Marginal Cost 0 $ 200 1 900 2 $900 3 3,000 a) In Exhibit 11, by filling in the blanks it can be determined that the fixed costs are: b) In Exhibit 11, by filling in the blanks it can be determined that the total cost of the second unit of output is: c) In Exhibit 11, by filling in the blanks it can be determined that the marginal cost of the first unit of output is:
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section: Chapter Questions
Problem 9WNG
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Question
Please answer the following question based on Exhibit 11.
Exhibit 11- Cost schedule for a firm
Quantity |
Total Cost |
Marginal Cost |
0 |
$ 200 |
|
1 |
900 |
|
2 |
|
$900 |
3 |
3,000 |
|
- a) In Exhibit 11, by filling in the blanks it can be determined that the fixed costs are:
- b) In Exhibit 11, by filling in the blanks it can be determined that the total cost of the second unit of output is:
- c) In Exhibit 11, by filling in the blanks it can be determined that the marginal cost of the first unit of output is:
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