8. Your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule...

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8. Your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for variable costs:

Quantity of Houses Painted 1 2 3 4 5 6 7 per Month Variable Costs $10 $20 $40 $80 $160 $320 $640 Calculate average fixed cost, average variable cost, and average total cost for each quantity. What is the efficient scale of the painting company? p-9875

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Essentials Of Economics

ISBN: 9780324590029

5th Edition

Authors: N. Gregory Mankiw

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