7. Use the follow information in the table below to calculate total cost, marginal fixed cost,average fixed cost, marginal variable costs, and average variable costs. Why does averagevariable costs make a u-shape?Quantity TotalFixedCost$100$100$100$100$100012345678$100$100$100$100Total Total Average Marginal AverageCost TotalVariableFixedFixedCostCostCostCost090170240300370450540650Marginal AverageVariable VariableCostCost

Total cost is the sum of total fixed costs and total variable costs. Total fixed costs are the total…

Use the follow information in the table below to calculate total cost, marginal fixed cost, average fixed cost, marginal variable costs, and average variable costs. Why does average variable costs make a u-shape? Quantity Total Total Total Average Marginal Average Fixed Variable Cost Total Fixed Cost Cost Cost Cost $100 0 $100 90 $100 170 $100 240 $100 300 $100 370 $100 450 $100 540 $100 650 0 1 2 34 4 5 6 7 8 Marginal Average Fixed Variable Variable Cost Cost Cost

Use the follow information in the table below to calculate total cost, marginal fixed cost, average fixed cost, marginal variable costs, and average variable costs. Why does average variable costs make a u-shape? Quantity Total Total Total Average Marginal Average Fixed Variable Cost Total Fixed Cost Cost Cost Cost $100 0 $100 90 $100 170 $100 240 $100 300 $100 370 $100 450 $100 540 $100 650 0 1 2 34 4 5 6 7 8 Marginal Average Fixed Variable Variable Cost Cost Cost

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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the various measure of the cost
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