What is the Average Total Cost (ATC) for producing 84 units of output?Quantity of Labor57.477.6201234сл5LO6Total Output0164060728084Fixed Cost$160Variable Cost$80$160$240$320$400$480Total Cost

Total cost is the total cost of producing the goods. Total cost is the sum of total fixed cost and…

What is the Average Total Cost (ATC) for producing 84 units of output? Quantity of Labor 5 7.4 07 7.62 0 1 2 3 4 956 Total Output 0 16 40 60 72 80 84 Fixed Cost $160 Variable Cost $80 $160 $240 $320 $400 $480 Total Cost

What is the Average Total Cost (ATC) for producing 84 units of output? Quantity of Labor 5 7.4 07 7.62 0 1 2 3 4 956 Total Output 0 16 40 60 72 80 84 Fixed Cost $160 Variable Cost $80 $160 $240 $320 $400 $480 Total 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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Question

What is the Average Total Cost (ATC) for producing 84 units of output?
Quantity of Labor
5
7.4
7
7.62
0
1
2
3
4
сл
5
LO
6
Total Output
0
16
40
60
72
80
84
Fixed Cost
$160
Variable Cost
$80
$160
$240
$320
$400
$480
Total Cost

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1
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6 5 nts eBook Print References Mc Graw Hill Output 0 1 2 3 4 5 6 7 8 9 $ Total Cost $2,500 3,410 4,040 4,480 4,900 5,220 5,540 6,310 7,320 9,710 units variabl Cost $ 0 b. What is the value of total fixed cost? units 910 1540 1980 2400 2720 3040 3810 4820 7210 Marginal Cost 1 c. What is the most productive level of output? $ 910 630 440 420 320 320 770 1010 2390 d. At what output is economic capacity? Output: e. If TFC doubled, what is the marginal cost of the 7th unit? Marginal cost: $ Average Total Cost 1 $ 3410 2020 1493.33 H a 1225 1044 923.33 901.42 915 1078.89 a Average Variable Cost D $ 1 625 500 416.67 35713 312.5 27778
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What is the term for the change in total cost resulting from a one-unit increase in production? average fixed cost opportunity cost average variable cost marginal cost
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