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28 Sep 2019
. Answer the questions below given the following quantity output and cost data. Show your calculations.
Total Product (Q): 0 1 2 3 4 5 6
Total Cost (TC): $50 $80 $105 $125 $155 $195 $250
(10 points)
a. What is average variable cost of producing three units of output?
b. What is the average fixed cost of producing 2units?
c. What is the marginal cost of producing the sixth unit of output?
d. What is the average total cost of 5 units of output is:
e. Diminishing marginal returns are incurred when output is increased from___ to ______.
. Answer the questions below given the following quantity output and cost data. Show your calculations.
Total Product (Q): 0 1 2 3 4 5 6
Total Cost (TC): $50 $80 $105 $125 $155 $195 $250
(10 points)
a. What is average variable cost of producing three units of output?
b. What is the average fixed cost of producing 2units?
c. What is the marginal cost of producing the sixth unit of output?
d. What is the average total cost of 5 units of output is:
e. Diminishing marginal returns are incurred when output is increased from___ to ______.
imranshkh84Lv8
31 Dec 2022
Raushan RajLv8
28 Sep 2019
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