4. Firm's Costs Your cousin Vinnie owns a painting company with fixed costs of $200 and the...
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4. Firm's Costs
Your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for variable costs:
Quantity | Variable Cost | Average Fixed Cost | Average Variable Cost | Average Total Cost |
---|---|---|---|---|
(Houses Painted per Month) | (Dollars) | (Dollars) | (Dollars) | (Dollars) |
1 | 10 | |||
2 | 20 | |||
3 | 40 | |||
4 | 80 | |||
5 | 160 | |||
6 | 320 | |||
7 | 640 |
The efficient scale is
houses.
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