Table 13-1Measures of Cost for ABC Inc. Widget FactoryVariableTotalCostsCosts$1$3$18$6$21$10$30$21Quantityof Widgets0123456FixedCosts$15$15 Refer to Table 13-1. What is the fixed cost ofproducing three widgets?a. $0b. S1c. $15d. $18Refer to Table 13-1. What is the variable cost ofproducing five widgets?a. $13.00b. $14.00c. $15.00d. $16.00

Fixed cost: Fixed cost is defined as the cost which is independent of the level of output or…

Refer to Table 13-1. What is the fixed cost of producing three widgets? a. $0 b. S1 c. $15 d. $18 Refer to Table 13-1. What is the variable cost of producing five widgets? a. $13.00 b. $14.00 c. $15.00 d. $16.00

Refer to Table 13-1. What is the fixed cost of producing three widgets? a. $0 b. S1 c. $15 d. $18 Refer to Table 13-1. What is the variable cost of producing five widgets? a. $13.00 b. $14.00 c. $15.00 d. $16.00

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

Table 13-1
Measures of Cost for ABC Inc. Widget Factory
Variable
Total
Costs
Costs
$1
$3
$18
$6
$21
$10
$30
$21
Quantity
of Widgets
0
1
2
3
4
5
6
Fixed
Costs
$15
$15

Refer to Table 13-1. What is the fixed cost of
producing three widgets?
a. $0
b. S1
c. $15
d. $18
Refer to Table 13-1. What is the variable cost of
producing five widgets?
a. $13.00
b. $14.00
c. $15.00
d. $16.00

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