Question
(Costs of Production) Fill in Table 3: Table 3 Production of Backpacks Price $40.00 Workers Output MP FC VC TC MC AVC ATC TR Profit
(Costs of Production)
Fill in Table 3:
| Table 3 | ||||||||||
| Production of Backpacks | Price | $40.00 | ||||||||
| Workers | Output | MP | FC | VC | TC | MC | AVC | ATC | TR | Profit |
| 0 | 0 |
| $75 | 0 | $75 | - | - | - | 0 | ($75) |
| 1 | 5 |
|
| $100.00 |
|
|
|
|
|
|
| 2 | 11 |
|
| $175.00 |
|
|
|
|
|
|
| 3 | 17 |
|
| $225.00 |
|
|
|
|
|
|
| 4 | 22 |
|
| $290.00 |
|
|
|
|
|
|
| 5 | 24 |
|
| $360.00 |
|
|
|
|
|
|
| 6 | 25 |
|
| $440.00 |
|
|
|
|
|
|
- What rate of output would give you the lowest ATC? Which rate of output gives you the lowest MC?
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Financial Accounting An Introduction To Concepts Methods And Uses
Authors: Clyde P. Stickney, Roman L. Weil
9th Edition
0030259622, 978-0030259623
