The next 4 questions refer to the following table, (fill in the blanks and proceed to answer). Cost Production Total Fixed cost Variable cost Fixed cost Vaiable cost Average cost Total 100 560 Total 60 Average Average Total Cost Marginal 200 4.00 300 400 4.00 7.00 14. What is the total fixed cost when 400 units of output are produced? a. $500 b. $2,000 c. $3,500 d. $5,000 None of the above 15. What is the average total cost when 200 units of output are produced? a. $2.50 b. $2.30 c. $4.00 d. $4.80 16. What is the average fixed cost when 300 units of output are produced? a. $0.60 b. $3.00 c. $160 d. $500 None of the above 17. What is the marginal cost of the 250th unit of production? a. $0.14 b. $2.40 c. $4.00 d. $3.0 None of the above

The next 4 questions refer to the following table, (fill in the blanks and proceed to answer). Cost Production Total Fixed cost Variable cost Fixed cost Vaiable cost Average cost Total 100 560 Total 60 Average Average Total Cost Marginal 200 4.00 300 400 4.00 7.00 14. What is the total fixed cost when 400 units of output are produced? a. $500 b. $2,000 c. $3,500 d. $5,000 None of the above 15. What is the average total cost when 200 units of output are produced? a. $2.50 b. $2.30 c. $4.00 d. $4.80 16. What is the average fixed cost when 300 units of output are produced? a. $0.60 b. $3.00 c. $160 d. $500 None of the above 17. What is the marginal cost of the 250th unit of production? a. $0.14 b. $2.40 c. $4.00 d. $3.0 None of the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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