Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of pizzas) ( Dollars) (Dollars) 0 320 O 380 60 110

image text in transcribed
Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of pizzas) ( Dollars) (Dollars) 0 320 O 380 60 110 IN 430 140 w 460 4 500 180 550 230 6 620 300 The pizzeria's fixed cost is ($. Complete the third column of the following table by calculating the marginal cost per dozen pizzas using the information on total cost. Then complete the final column by calculating the marginal cost per dozen pizzas using the information on variable cost. Quantity Total Cost Marginal Cost Variable Cost Marginal Cost Using Total Cost Using Variable Cost (Dozens of pizzas) (Dollars) (Dollars) (Dollars) (Dollars) 0 320 0 1 380 60 2 430 110 00000 w 460 140 V.VVVVV 4 500 180 5 550 230 6 620 300 True or False: It doesn't matter whether you compute marginal cost using total cost or variable cost. True O False

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Macroeconomics

Authors: N Gregory Mankiw

8th Edition

1305971507, 9781305971509

More Books

Students also viewed these Economics questions