Table 11-7Quantity ofLanterns758090100115117120B) $32C) SI1.1Fixed Cost(dollars)200200200200200200200D) $8.1Variable Cost(dollars)17023081012641480Total Cost(dollars)3704301464Average TotalCost (dollars)Table 11-7 shows cost data for Lotus Lanterns, a producer of whimsical night lights.Refer to Table 11-7. What is the marginal cost per unit of production when the firm produces 100 lanterns?A) $4204.935.367.6711.812.5

Marginal Cost is the cost of producing an additional unit of output. Marginal Cost is the change in…

Table 11-7 Quantity of Lanterns 75 80 90 100 115 117 120 B) $32 C) SILI Fixed Cost Variable Cost (dollars) (dollars) 200 170 200 230 200 200 200 200 200 D) $8.1 810 1264 1480 Total Cost (dollars) 370 430 1464 Table 11-7 shows cost data for Lotus Lanterns, a producer of whimsical night lights. Refer to Table 11-7. What is the marginal cost per unit of production when the firm produces 100 lanterns? A) $420 Average Total Cost (dollars) 4,93 5.36 7.67 11.8 12.5

Table 11-7 Quantity of Lanterns 75 80 90 100 115 117 120 B) $32 C) SILI Fixed Cost Variable Cost (dollars) (dollars) 200 170 200 230 200 200 200 200 200 D) $8.1 810 1264 1480 Total Cost (dollars) 370 430 1464 Table 11-7 shows cost data for Lotus Lanterns, a producer of whimsical night lights. Refer to Table 11-7. What is the marginal cost per unit of production when the firm produces 100 lanterns? A) $420 Average Total Cost (dollars) 4,93 5.36 7.67 11.8 12.5

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 11-7
Quantity of
Lanterns
75
80
90
100
115
117
120
B) $32
C) SI1.1
Fixed Cost
(dollars)
200
200
200
200
200
200
200
D) $8.1
Variable Cost
(dollars)
170
230
810
1264
1480
Total Cost
(dollars)
370
430
1464
Average Total
Cost (dollars)
Table 11-7 shows cost data for Lotus Lanterns, a producer of whimsical night lights.
Refer to Table 11-7. What is the marginal cost per unit of production when the firm produces 100 lanterns?
A) $420
4.93
5.36
7.67
11.8
12.5

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