0 Use your knowledge of cost functions to calculate the missed cost data in the accompanying table. Round your answers to two digits after the decimal. Marginal cost Quantity 0 1 2 3 4 total cost: $ -- $95.00 Fixed cost $30.00 What is the total cost when producing zero units? marginal cost: $ 40 Variable cost average total cost: $ $68.00 What is the marginal cost for the first unit? Total Average fixed cost cost $400.00 What is the average total cost when producing three units? Average variable cost $40.00 Average total cost ---
0 Use your knowledge of cost functions to calculate the missed cost data in the accompanying table. Round your answers to two digits after the decimal. Marginal cost Quantity 0 1 2 3 4 total cost: $ -- $95.00 Fixed cost $30.00 What is the total cost when producing zero units? marginal cost: $ 40 Variable cost average total cost: $ $68.00 What is the marginal cost for the first unit? Total Average fixed cost cost $400.00 What is the average total cost when producing three units? Average variable cost $40.00 Average total cost ---
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,...
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