The diagram to the right displays short-run cost curves for a facility that produces liquid crystal display (LCD) screens for cell phones. a. What are the daily total fixed costs of producing 300 LCD screens? $999 (Round your answer to the nearest penny.) b. What are the total variable costs of producing 300 LCD screens per day? $1275 (Round your answer to the nearest penny.) c. What are the total costs of producing 300 LCD screens per day? $ 2274 (Round your answer to the nearest penny.) d. What is the average total cost of producing 300 LCD screens? $ (Round your answer to the nearest penny.) Costs (dollars per LCD screen) 12.00 11.00- 10.00- 9.00- 8.00- 7.00- 6.00- 5.00+ 4.00 13.33 .. 3.00- 2.00- 5.00 4.25 1.00- AVC AFC
The diagram to the right displays short-run cost curves for a facility that produces liquid crystal display (LCD) screens for cell phones. a. What are the daily total fixed costs of producing 300 LCD screens? $999 (Round your answer to the nearest penny.) b. What are the total variable costs of producing 300 LCD screens per day? $1275 (Round your answer to the nearest penny.) c. What are the total costs of producing 300 LCD screens per day? $ 2274 (Round your answer to the nearest penny.) d. What is the average total cost of producing 300 LCD screens? $ (Round your answer to the nearest penny.) Costs (dollars per LCD screen) 12.00 11.00- 10.00- 9.00- 8.00- 7.00- 6.00- 5.00+ 4.00 13.33 .. 3.00- 2.00- 5.00 4.25 1.00- AVC AFC
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 3CQQ
Related questions
Question
What is the average total cost of producing 300 LCD screens?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Principles of Economics, 7th Edition (MindTap Cou…
Economics
ISBN:
9781285165875
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Principles of Economics, 7th Edition (MindTap Cou…
Economics
ISBN:
9781285165875
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning