The table below shows some of the costs of production for a the Clean-Cut Chain Saws manufacturing company a) Complete the table. Round your answers to nearest whole numbers. Output e 1 2 3 Total Cost $2,510 3,430 4,050 4,510 4,920 5,230 5,540 6,300 7,300 9,700 b. What is the value of total fixed cost? $ c. What is the most productive level of output? 4 5 6 7 8 9 Total Variable Cost units $ O 3430 8100 13530 19680 Marginal Cost 26150 33240 44100 58400 87300 $ 920 620 460 410 310 310 760 1000 2400 Average Total Cost $ 1 3430 2025 1503.34 1230 1046 923.33 900 912.5 107778 Average Variable Cost S 3430 4050 4510 1230 1046 4920 6300 7300 9700 Average Fixed Cost $ 1
The table below shows some of the costs of production for a the Clean-Cut Chain Saws manufacturing company a) Complete the table. Round your answers to nearest whole numbers. Output e 1 2 3 Total Cost $2,510 3,430 4,050 4,510 4,920 5,230 5,540 6,300 7,300 9,700 b. What is the value of total fixed cost? $ c. What is the most productive level of output? 4 5 6 7 8 9 Total Variable Cost units $ O 3430 8100 13530 19680 Marginal Cost 26150 33240 44100 58400 87300 $ 920 620 460 410 310 310 760 1000 2400 Average Total Cost $ 1 3430 2025 1503.34 1230 1046 923.33 900 912.5 107778 Average Variable Cost S 3430 4050 4510 1230 1046 4920 6300 7300 9700 Average Fixed Cost $ 1
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 3CQQ
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Transcribed Image Text:The table below shows some of the costs of production for a the Clean-Cut Chain Saws manufacturing company:
a) Complete the table. Round your answers to nearest whole numbers.
Output
e
1
2
3
Total Cost
$ 2,510
3,430
4,050
4,510
4,920
5,230
5,540
6,300
7,300
9,700
b. What is the value of total fixed cost?
$
c. What is the most productive level of output?
4
5
6
7
8
9
Total
Variable
Cost
units
$
O
Marginal Cost
1
3430
8100
13530
19680
26150
33240
44100
58400
87300
$
920
620
460
410
310
310
760
1000
2400
Average
Total Cost
$
1
3430
2025
1503.34
1230
1046
923.33
900
912.5
1077.78
Average
Variable Cost
/
$
3430
4050
4510
1230
1046
4920
6300
7300
9700
Average
Fixed Cost
$
1
W
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