Answered: Use the cost table below to find the…

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

Use the cost table below to find the following marginal costs. Output quantity 20 40 60 80 100 120 140 Total variable cost ($) 80 140 210 300 420 600 840 Total fixed Total cost cost ($) ($) 140 8888888 60 60 60 60 60 60 60 What is the marginal cost when output is 20? $ 7 * 200 270 360 480 660 900

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Use the cost table below to find the following marginal costs.
Output
quantity
20
40
60
80
100
120
140
Total variable
cost ($)
80
140
210
300
420
600
840
Total fixed Total cost
cost ($)
($)
140
60
8888888
60
60
60
60
60
60
What is the marginal cost when output is 20? $ 7
200
270
360
480
660
900

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