The table below shows the weekly cost of producing cowboy hats.Complete the table by filling in the missing values.**Instructions**: Round your answers to 1 decimal place.**Cowboy Hat Production Costs**| Output | Total Fixed Cost (dollars) | Total Variable Cost (dollars) | Total Cost (dollars) | Average Fixed Cost (dollars) | Average Variable Cost (dollars) | Average Total Cost (dollars) ||--------|----------------------------|-------------------------------|----------------------|------------------------------|--------------------------------|------------------------------|| 0 | $1,000 | $0 | $1,000 | - | - | $150 || 10 | | 500 | | | 33 | 83 || 20 | | 860 | $1,660 | | 33.3 | || 30 | | | | | | || 40 | | | 2,100 | | | 52.5 || 50 | | 1,400 | | | 28 | |(Note: Missing values in the table are to be filled by students as part of an educational exercise on cost analysis.)

Total Cost = Total Variable cost + Total Fixed CostAverage Fixed cost = Total Fixed Cost / Quantity…

The table below shows the weekly cost of producing cowboy hats. Complete the table by filling in the missing values. Instructions: Round your answers to 1 decimal place. Cowboy Hat Production Costs Total Fixed Cost Total Variable Cost output (dollars) (dollars) 0 $1,000 10 20 30 40 50 In he K - $0 500 860 1,400 - Total Cost Average Fixed Cost (dollars) (dollars) $1,000 1,660 2,100 33.3 1 7 100 M Average Variable Average Total Cost Cost (dollars) (dollars) 33 28.7 28 $150 83 52.5

The table below shows the weekly cost of producing cowboy hats. Complete the table by filling in the missing values. Instructions: Round your answers to 1 decimal place. Cowboy Hat Production Costs Total Fixed Cost Total Variable Cost output (dollars) (dollars) 0 $1,000 10 20 30 40 50 In he K - $0 500 860 1,400 - Total Cost Average Fixed Cost (dollars) (dollars) $1,000 1,660 2,100 33.3 1 7 100 M Average Variable Average Total Cost Cost (dollars) (dollars) 33 28.7 28 $150 83 52.5

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The table below shows the weekly cost of producing cowboy hats.

Complete the table by filling in the missing values.

**Instructions**: Round your answers to 1 decimal place.

**Cowboy Hat Production Costs**

| Output | Total Fixed Cost (dollars) | Total Variable Cost (dollars) | Total Cost (dollars) | Average Fixed Cost (dollars) | Average Variable Cost (dollars) | Average Total Cost (dollars) |
|--------|----------------------------|-------------------------------|----------------------|------------------------------|--------------------------------|------------------------------|
| 0 | $1,000 | $0 | $1,000 | - | - | $150 |
| 10 | | 500 | | | 33 | 83 |
| 20 | | 860 | $1,660 | | 33.3 | |
| 30 | | | | | | |
| 40 | | | 2,100 | | | 52.5 |
| 50 | | 1,400 | | | 28 | |

(Note: Missing values in the table are to be filled by students as part of an educational exercise on cost analysis.)

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