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76. Given the following information about the cost function for Bob's Beautiful Bowling Balls: Output Total Total Total Average Average Average Marginal Fixed Variable Costs
76. Given the following information about the cost function for Bob's Beautiful Bowling Balls: Output Total Total Total Average Average Average Marginal Fixed Variable Costs Fixed Variable Total Cost Costs Costs Cost Cost Cost 1 10 60 2 100 3 120 4 128 5 180 6 252 7 3 16 8 436 Which of the following is true? a. The marginal cost of the 4:1: unit is lower than for any other unit. b. AVC falls through the first ve units of output. c. The total cost of producing 5 units is $230. d. The average fixed cost of producing 3 units is $200. e. None of the above is true
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