Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please help me answer these questions. Thanks in advance
![Based on the information in the table below, this marginal cost (MC) of the second unit of output is:
Total Variable Cost
Quantity of Output (Q)
(TVC)
Total Cost (TC)
$4
$ 9
1
14
8.
19
---
4.
11
12
O $8
O $3
O $6
O $2
« Previous
99+](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc2669eda-9b5e-4782-990a-c84390c355a0%2F8fbeadde-51f4-4d21-89a2-ec2b0282cb74%2F0uiw809_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Based on the information in the table below, this marginal cost (MC) of the second unit of output is:
Total Variable Cost
Quantity of Output (Q)
(TVC)
Total Cost (TC)
$4
$ 9
1
14
8.
19
---
4.
11
12
O $8
O $3
O $6
O $2
« Previous
99+
![Question 4
Based on the information in the table below, the average variable cost (AVC) of three units of output is:
Total Variable Cost
Quantity of Output (Q)
Total Cost (TC)
(TVC)
$_
$ 10
1
14
7
22
---
18
36
O $4
O $12
O $3.33
O $7.33
« Previous
hulu
99+](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc2669eda-9b5e-4782-990a-c84390c355a0%2F8fbeadde-51f4-4d21-89a2-ec2b0282cb74%2Fwsfoj16_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 4
Based on the information in the table below, the average variable cost (AVC) of three units of output is:
Total Variable Cost
Quantity of Output (Q)
Total Cost (TC)
(TVC)
$_
$ 10
1
14
7
22
---
18
36
O $4
O $12
O $3.33
O $7.33
« Previous
hulu
99+
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