Table 13-18MarginalProductVariableFixedCostLaborOutputCostSo$10200200$20$10350$40S1013450$60$101450$80$10525$100$10530$120$10Refer to Table 13-18. What is the average fixed cost of producing 450 units of output?O 10O 70O 21O.02

Answered: Refer to Table 13-18. What is the…

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Refer to Table 13-18. What is the average fixed cost of producing 450 units of output? O 10 O 70 O 21 O.02

ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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Question

Table 13-18
Marginal
Product
Variable
Fixed
Cost
Labor
Output
Cost
So
$10
200
200
$20
$10
350
$40
S10
13
450
$60
$10
14
50
$80
$10
5
25
$100
$10
530
$120
$10
Refer to Table 13-18. What is the average fixed cost of producing 450 units of output?
O 10
O 70
O 21
O.02

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