The table below shows the cost of producing model vintage cars for collectors.Instructions: Enter your answers as a whole number.a. Complete the marginal cost column in the table.Vintage Model Car Production CostsTotal Fixed CostTotal VariableCost (dollars)Total Cost(dollars)$2,000(dollars)$2,000Marginal Cost(dollars)Output$012,0006002,6002,0001,1003,1002,0001,9003,90042,0002,9004,9005.2,0004,1506,150b. What is the total cost of producing 4 vintage model cars?2.c. What is the marginal cost of producing the 4th vintage model car?2.

Output TFC($) TVC ($) TC($) MC($) 0 2000 0 2000 - 1 2000 600 2600 600 2 2000 1100 3100 500…

The table below shows the cost of producing model vintage cars for collectors. Instructions: Enter your answers as a whole number. a. Complete the marginal cost column in the table. Vintage Model Car Production Costs Total Fixed Cost Total Variable Total Cost Marginal Cost (dollars) (dollars) Cost (dollars) $0 Output (dollars) $2,000 $2,000 1 2,000 600 2,600 $4 2. 2,000 1,100 3,100 2,000 1,900 3,900 4. 2,000 2,900 4,900 2,000 4,150 6,150 b. What is the total cost of producing 4 vintage model cars? 2. c. What is the marginal cost of producing the 4th vintage model car? %24

The table below shows the cost of producing model vintage cars for collectors. Instructions: Enter your answers as a whole number. a. Complete the marginal cost column in the table. Vintage Model Car Production Costs Total Fixed Cost Total Variable Total Cost Marginal Cost (dollars) (dollars) Cost (dollars) $0 Output (dollars) $2,000 $2,000 1 2,000 600 2,600 $4 2. 2,000 1,100 3,100 2,000 1,900 3,900 4. 2,000 2,900 4,900 2,000 4,150 6,150 b. What is the total cost of producing 4 vintage model cars? 2. c. What is the marginal cost of producing the 4th vintage model car? %24

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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