The table below shows cost data for WipeOutSki Company, which manufactures skis for beginners. If the company’s fixed costs are $30, what is the marginal cost X? Quantity Variable Cost Fixed Cost Total Cost Average Variable Cost Average Total Cost Marginal Cost 0 0 $30 1 $10 $30 2 $25 $30 X 3 $45 $30 4 $70 $30 5 $100 $30 6 $135 $30 Group of answer choices $15 $55 $5

The table below shows cost data for WipeOutSki Company, which manufactures skis for beginners. If the company’s fixed costs are $30, what is the marginal cost X? Quantity Variable Cost Fixed Cost Total Cost Average Variable Cost Average Total Cost Marginal Cost 0 0 $30 1 $10 $30 2 $25 $30 X 3 $45 $30 4 $70 $30 5 $100 $30 6 $135 $30 Group of answer choices $15 $55 $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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600 550 500 450 400 360 350 300 270 250 200 150 100 50 0 ATC> MC c) 20 d) 25 e) 45 f) 100 g) 120 h) 160 a 6 10 20. What is the Marginal Cost at Q=6? a) 7.50 b) 12 b 20 Ha 30 ATC=MC TC ATC < MC 37 40
When average cost decreases as output increases, Group of answer choices marginal cost is below average cost average variable cost is rising average fixed cost is rising marginal cost is above average cost
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