The table below represents the costs of producing sneakers.Quantity1017243138FixedCost$112$112$112$112$112VariableCost$15$40$65$90$115TotalCost$127$152$177$202$227Provide your answer below:Average FixedCost?????Average VariableCost?????Find the average fixed cost for producing 31 sneakers. Round your answer to the nearest cent.Average TotalCost?????

Fixed cost: Fixed costs are the expenses incurred by the firm that do not change if the level of…

The table below represents the costs of producing sneakers. Quantity 10 17 24 31 38 4 Fixed Cost $112 $112 $112 $112 $112 Variable Cost $15 $40 $65 $90 $115 Total Cost $127 $152 $177 $202 $227 Average Fixed Cost ? ? ? ? ? Average Variable Cost ? ? ? ? ? Find the average fixed cost for producing 31 sneakers. Round your answer to the nearest cent. Average Total Cost ? ? ? ? ?

The table below represents the costs of producing sneakers. Quantity 10 17 24 31 38 4 Fixed Cost $112 $112 $112 $112 $112 Variable Cost $15 $40 $65 $90 $115 Total Cost $127 $152 $177 $202 $227 Average Fixed Cost ? ? ? ? ? Average Variable Cost ? ? ? ? ? Find the average fixed cost for producing 31 sneakers. Round your answer to the nearest cent. Average Total Cost ? ? ? ? ?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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k The table below presents the average and marginal cost of producing cheeseburgers per hour at a roadside diner. Cheeseburger Production Costs Quantity (burgers per hour) 0 10 20 30 40 50 60 70 80 90 100 Average Variable Cost (dollars) $1.00 0.70 0.70 0.78 0.88 1.07 1.34 1.74 2.23 2.81 Average Total Cost (dollars) $6.60 3.50 2.57 2.18 2.00 2.00 2.14 2.44 2.86 3.37 Marginal Cost (dollars) $1.00 0.40 0.70 1.00 1.30 2.00 3.00 4.50 6.20 8.00 a. When moving from producing a quantity of 30 cheeseburgers per hour to 40 cheeseburgers per hour, the average total cost of production is (Click to select) and the marginal cost of cheeseburger production is (Click to select) b. When moving from producing a quantity of 50 cheeseburgers per hour to 60 cheeseburgers per hour, the average variable cost of production is (Click to select) and the average total cost of cheeseburger production is (Click to select) ✓
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