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Use the table below to answer the following question. Units of Total Fixed Total Variable Output Cost (dollars) Cost (dollars) 1 1,000 1,200 2 1,000 2,400 3 1,000 3,600 4 1,000 5,000 5 1,000 6,600 What is the average total cost (ATC) at an output level of two units? $1,200 $2,400 $500 $1,700

Use the table below to answer the following question. Units of Total Fixed Total Variable Output Cost (dollars) Cost (dollars) 1 1,000 1,200 2 1,000 2,400 3 1,000 3,600 4 1,000 5,000 5 1,000 6,600 What is the average total cost (ATC) at an output level of two units? $1,200 $2,400 $500 $1,700

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Use the table below to answer the following question. Units of Total Fixed Total Variable Output Cost (dollars) Cost (dollars) 1 1,000 1,200 2 1,000 2,400 3 1,000 3,600 4 1,000 5,000 5 1,000 6,600 What is the average total cost (ATC) at an output level of two units? $1,200 $2,400 $500 $1,700
Transcribed Image Text:Use the table below to answer the following question. Units of Total Fixed Total Variable Output Cost (dollars) Cost (dollars) 1 1,000 1,200 2 1,000 2,400 3 1,000 3,600 4 1,000 5,000 5 1,000 6,600 What is the average total cost (ATC) at an output level of two units? $1,200 $2,400 $500 $1,700
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