Suppose that the total fixed cost for a particular competitive firm is $6. The marginal cost for the first unit produced is $9 and decreases by $2 for each of the next two units produced. Thereafter, marginal cost increases by $2 for each additional unit. a. Complete the table below. Round your "Average Variable Cost", "Average Total Cost" answers to 2 decimal places. Total Average Variable Cost Average Total Marginal Units Total Cost Variable Cost Cost Cost 15 15 2 6.

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Suppose that the total fixed cost for a particular competitive firm is $6. The marginal cost for the first unit produced is $9 and
decreases by $2 for each of the next two units produced. Thereafter, marginal cost increases by $2 for each additional unit.
a. Complete the table below. Round your "Average Variable Cost". "Average Total Cost" answers to 2 decimal places.
Total
Average
Variable
Average
Total
Marginal
Units
Total Cost
Variable
Cost
Cost
Cost
Cost
1
15
15
2
7
5
11
Transcribed Image Text:Suppose that the total fixed cost for a particular competitive firm is $6. The marginal cost for the first unit produced is $9 and decreases by $2 for each of the next two units produced. Thereafter, marginal cost increases by $2 for each additional unit. a. Complete the table below. Round your "Average Variable Cost". "Average Total Cost" answers to 2 decimal places. Total Average Variable Average Total Marginal Units Total Cost Variable Cost Cost Cost Cost 1 15 15 2 7 5 11
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