Answered: Total Fixed Total Variable Average…

Total Fixed Total Variable Average Fixed Average Output Cost Cost Total Cost Cost Variable Cost Average Total Cost Marginal Cost 1 $500 $200 2 $800 3 $875 $25 4 $925 ???? $100 $450

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

Refer to the screenshot of the table. What is the marginal cost of producing the 4th units of the good?

Total Fixed
Total Variable
Average Fixed
Average
Output
Cost
Cost
Total Cost
Cost
Variable Cost
Average Total Cost Marginal Cost
1
$500
$200
2
$800
3
$875
$25
4
$925
????
$100
6
$450
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