rkers) Output TFC ($) TVC ($) Total Cost ($) 0 0 50 0 1 8 50 40 90 2 20 50 80 3 28 50 120 170 4 35 50 210 5 41 50 200 250 Refer to the provided table. The average total cost of producing 20 units of output is Multiple Choice $4.00.
rkers) Output TFC ($) TVC ($) Total Cost ($) 0 0 50 0 1 8 50 40 90 2 20 50 80 3 28 50 120 170 4 35 50 210 5 41 50 200 250 Refer to the provided table. The average total cost of producing 20 units of output is Multiple Choice $4.00.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Input (Workers) | Output | TFC ($) | TVC ($) | Total Cost ($) |
---|---|---|---|---|
0 | 0 | 50 | 0 | |
1 | 8 | 50 | 40 | 90 |
2 | 20 | 50 | 80 | |
3 | 28 | 50 | 120 | 170 |
4 | 35 | 50 | 210 | |
5 | 41 | 50 | 200 | 250 |
Refer to the provided table. The
Multiple Choice
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