6 Consider the following cost information for a pie shop. Quantity Total cost Variable cost 0 dozen...
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6 Consider the following cost information for a pie shop.
Quantity Total cost Variable cost 0 dozen $300 $0 1 350 50 2 390 90 3 420 120 4 450 150 5 490 190 6 540 240 a What is the pie shop's fixed cost?
b Construct a table in which you calculate the marginal cost per dozen pies using the information on total cost. Also ca lculate the marginal cost per dozen pies using the information on variable cost. What is the relationship between these sets of numbers?
Explain.
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Related Book For
Principles Of Microeconomics
ISBN: 125206
8th Edition
Authors: Joshua Gans, Stephen King, Martin Byford, N Gregory Mankiw
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