A firm has a total fixed cost of $60 and total variable costs as indicated in the table below. Complete the table. Instructions: For the "Total Fixed Cost" and "Total Cost" columns, enter your answers as a whole number. For all other coll round your answers to two decimal places. Total Product 0 1 2 3 4 5 6 7 8 9 10 Total Fixed Total Variable Cost Cost $60 60 60 60 60 60 60 60 60 60 60 $0 45 85 120 150 185 225 270 325 390 465 Total Cost 60 105 145 180 210 245 285 330 385 450 525 Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost
A firm has a total fixed cost of $60 and total variable costs as indicated in the table below. Complete the table. Instructions: For the "Total Fixed Cost" and "Total Cost" columns, enter your answers as a whole number. For all other coll round your answers to two decimal places. Total Product 0 1 2 3 4 5 6 7 8 9 10 Total Fixed Total Variable Cost Cost $60 60 60 60 60 60 60 60 60 60 60 $0 45 85 120 150 185 225 270 325 390 465 Total Cost 60 105 145 180 210 245 285 330 385 450 525 Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter4: Extent (how Much) Decisions
Section: Chapter Questions
Problem 3MC
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Transcribed Image Text:A firm has a total fixed cost of $60 and total variable costs as indicated in the table below. Complete the table.
Instructions: For the "Total Fixed Cost" and "Total Cost" columns, enter your answers as a whole number. For all other coll
round your answers to two decimal places.
Total
Product
0
1
2
3
4
5
6
7
8
9
10
Total Fixed Total Variable
Cost
Cost
$60
60
60
60
60
60
60
60
60
60
60
$0
45
85
120
150
185
225
270
325
390
465
Total Cost
60
105
145
180
210
245
285
330
385
450
525
Average Fixed
Cost
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Average Variable
Cost
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Average
Total Cost
‒‒‒
Marginal Cost
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