Shown are the related cost curves: 550 110 (0) 500 100 450 90 400 (A) 80 (D) 350 70 300 60 (F) * 250 50 200 40 150 (E) 30 100 (C) 20 50 10 (G) 123 4 567 ৪ 9 10 1 2 3. 6 7 8 9 4. 10 Total product (quantity of output) Total product (quantity of output) Identify which curve refers to: Variable Carve Variable Curve (Click to select) (Click to select) v (Click to select) (Click to select) Total cost V(Cick to select) Average total cost Variable cost Average variable cont Fixed cost Average fixed cost Marginal cost G. Costs (dollars) Costs (dollars)
Shown are the related cost curves: 550 110 (0) 500 100 450 90 400 (A) 80 (D) 350 70 300 60 (F) * 250 50 200 40 150 (E) 30 100 (C) 20 50 10 (G) 123 4 567 ৪ 9 10 1 2 3. 6 7 8 9 4. 10 Total product (quantity of output) Total product (quantity of output) Identify which curve refers to: Variable Carve Variable Curve (Click to select) (Click to select) v (Click to select) (Click to select) Total cost V(Cick to select) Average total cost Variable cost Average variable cont Fixed cost Average fixed cost Marginal cost G. Costs (dollars) Costs (dollars)
Chapter11: The Market For Pharmaceuticals
Section: Chapter Questions
Problem 1QAP
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Question
Transcribed Image Text:Shown are the related cost curves:
550
110
(0)
500
100
450
90
400
(A)
80
(D)
350
70
300
60
* 250
(F)
50
200
40
150
(1)
30
100
(C)
20
50
10
(G)
1234 56 7
8 9 10
6 7 8 9
Total product (quantity of output)
2.
3.
4.
10
Total product (quantity of output)
Identify which curve refers to:
Variable
Curve
Curve
(Click to select)
Variable
Total cost
V(Cick to select)
Average total cost
Average variable cost
Average fixed cost
Marginal cost
Variable cost
(Click to select)
(Click to select)
(Click to select)
Fixed cost
Costs (dollars)
Costs (dollars)
Transcribed Image Text:Given the table below:
Total
Total Fixed
Cost
Total Varlable
Cost
Average Fixed
Cost
Average
Varlable Cost
Average
Total Cost
Total Cost
Product
Marginal Cost
$60
$0
$ 60
60
45
105
$60.00
$45.00
$105.00
$45
2
60
85
145
30.00
42.50
72.50
40
3
60
120
180
20.00
40.00
60.00
35
4
60
150
210
15.00
37.50
52.50
30
60
185
245
12.00
37.00
49.00
35
6.
60
225
285
10.00
37.50
47.50
40
7.
60
270
330
8.57
38.57
47.14
45
8.
60
325
385
7.50
40.62
48.12
55
60
390
450
6.67
43.33
50.00
65
10
60
465
525
6.00
46.50
52.50
75
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