Question
In a slow year, Deutsche Burgers will produce 4, 000 million hamburgers at a total cost of $4,800 millionIn a good year, it can produce
In a slow year, Deutsche Burgers will produce 4, 000 million hamburgers at a total cost of $4,800 millionIn a good year, it can produce 5,200 million hamburgers at a cost of $5, 800 million.
a. What are the fixed costs of hamburger production? Round 1 decimal place
Fixed cost________ million
b. What is the variable cost per hamburger? Round 2 decimal places
Variable cost _______ per burger
c. What is the average cost per burger when the firm produces 3 million hamburgers? Round 2 decimal places
Average cost_________________ per burger
d. What is the average cost per burger when the firm produces 4 million hamburgers? Round 2 decimal places
Average cost __________ per burger
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started