Question
Measures of Cost for ABC Inc. Widget Factory Quantity of Widgets Variable Costs Total Costs Fixed Costs 0 $10 1 $ 1 2 $13 3
| Measures of Cost for ABC Inc. Widget Factory | |||
| Quantity of Widgets | Variable Costs | Total Costs | Fixed Costs |
| 0 | $10 | ||
| 1 | $ 1 | ||
| 2 | $13 | ||
| 3 | $ 6 | ||
| 4 | $20 | ||
| 5 | $15 | ||
| 6 | $21 |
8. Refer to Table #1. What is the average variable cost at 4 units of production at ABC Inc. factory?
a. $2.5. b. $5.17. c. $7. d. $10.
9. Refer to Table #1. What is the average total cost at 6 units of production at ABC Inc. factory?
a. $2.5. b. $5.17. c. $7. d. $10.
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Managerial Economics and Business Strategy
Authors: Michael R. baye
7th Edition
978-0073375960, 71267441, 73375969, 978-0071267441
