Solve the problems below: (1.) Output Total Cost ($) 0 10 1 20 2 28 3 38
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Question:
Solve the problems below:
(1.)
Output Total Cost ($)
0 10
1 20
2 28
3 38
4 53
5 73
6 98
Refer to the above table. The total fixed cost of production is?
(2.)
Output Total Cost ($)
0 10
1 20
2 28
3 38
4 53
5 73
6 98
Refer to the above table. The total variable cost of producing 5 units would be?
(3.)
A new computer lets a phlebotomist finish a blood draw in 10 minutes. The supplies for each draw cost $4, and the phlebotomist earns $20 per hour. The phlebotomy lab is designed to accommodate 20,000 draws per year. Its rent is $80,000 per year. What is the marginal cost of a blood draw?
Expert Answer:
ANSWER 1 To find the total fixed cost we need to identify the cost that remains constant reg... View the full answer
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