Use the following to answer question 11:Q08172740546676849196O $29.61$1750.00O $32.41TFC500500500500500500500500500500500$2250.00TVC(Table) In the table, rounded to the nearest cent, the average total cost of producing 76 unitsof output is:02505007501,0001,2501,5001,7502,0002,2502,500 P161285220DQ4060Consider the graph above.If the price is lowered from $8 to $5, consumer surplus:decreases by $120 and deadweight loss increases by $70.O decreases by $20 and deadweight loss increases by $140.increases by $20 and deadweight loss increases by $70.decreases by $20 and deadweight loss increases by $70.

Total cost is the sum of fixed cost and variable cost.=> TC = FC + VC Fixed cost is the cost that…

Use the following to answer question 11: Q 0 8 17 27 40 54 66 76 84 91 96 O $29.61 $1750.00 O $32.41 TFC 500 500 500 500 500 500 500 500 500 500 500 (Table) In the table, rounded to the nearest cent, the average total cost of producing 76 units of output is: $2250.00 TVC 0 250 500 750 1,000 1,250 1,500 1,750 2,000 2,250 2,500

Use the following to answer question 11: Q 0 8 17 27 40 54 66 76 84 91 96 O $29.61 $1750.00 O $32.41 TFC 500 500 500 500 500 500 500 500 500 500 500 (Table) In the table, rounded to the nearest cent, the average total cost of producing 76 units of output is: $2250.00 TVC 0 250 500 750 1,000 1,250 1,500 1,750 2,000 2,250 2,500

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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