Your company produces bicycle helmets. Currently you produce eight helmets per day at a totalcost (TC) of $120.a) What is your average total cost (ATC)?b) Suppose you could produce one more (the ninth) helmet with a marginal cost (MC) of$24. If you do produce that ninth helmet, what will your average total cost be now? +Q of Q ofWorkers Bread(Loavesper day)O1234A Bakery specializes in making bread. It has fixed costs associated with space and equipment of$200 per day. Each worker is paid $80 per day, which is their only variable cost. Your task is to fill-in the cells (those with a ?) in the following table. (Round to two decimal places - Example: 2.33)502038536365Marginal TotalProductVariableof eachCostworker(TVC)??????????סיAverage TotalVariable FixedCostCost(AVC)(TFC)??סדי??כדי?????AverageFixedCost(AFC)??TotalCost(TC)?????MarginalCost (MC)of eachloaf????סי?

Total cost is the sum of fixed and variable cost. Fixed cost are the cost that are fixed and…

Your company produces bicycle helmets. Currently you produce eight helmets per day at a total cost (TC) of $120. a) What is your average total cost (ATC)? b) Suppose you could produce one more (the ninth) helmet with a marginal cost (MC) of $24. If you do produce that ninth helmet, what will your average total cost be now?

Your company produces bicycle helmets. Currently you produce eight helmets per day at a total cost (TC) of $120. a) What is your average total cost (ATC)? b) Suppose you could produce one more (the ninth) helmet with a marginal cost (MC) of $24. If you do produce that ninth helmet, what will your average total cost be now?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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