MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
Question
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Chapter 12, Problem 1IP

(a)

To determine

Explain which of these are variable costs.

(b)

To determine

Explain which of these are fixed cost.

(c)

To determine

Explain what happens to average total costs, if output increases.

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The cost curve for producing widgets passes through the following points and is piecewise linear in between. Solve, a. What is the fixed cost of producing 600 widgets? b. What is the variable cost of producing 600 widgets? c. What is the cost per unit if only 400 widgets are produced?
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