Use the information in the graph to find the values for the following costs at an output level of 500. Total fixed cost is $(Enter your response as an integer.) Total variable cost is $(Enter your response as an integer.) Total cost is $(Enter your response as an integer.) 3 €500 Units of output MC G ATC AVC

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 19RQ: What shapes would you generally expect each of the following cost curves to have: fixed costs,...
Question
Use the information in the graph to find the values for the following costs at an output level of 500.
Total fixed cost is $(Enter your response as an integer.)
Total variable cost is $(Enter your response as an integer.)
Total cost is $(Enter your response as an integer.)
3
€500
Units of output
MC
G
ATC
AVC
Transcribed Image Text:Use the information in the graph to find the values for the following costs at an output level of 500. Total fixed cost is $(Enter your response as an integer.) Total variable cost is $(Enter your response as an integer.) Total cost is $(Enter your response as an integer.) 3 €500 Units of output MC G ATC AVC
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