Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose the total cost of producing 10,000 tennis balls is $30,000, and the fixed cost is $10,000. What is the variable cost? $ 20000 .

image text in transcribed
image text in transcribed
Suppose the total cost of producing 10,000 tennis balls is $30,000, and the fixed cost is $10,000. What is the variable cost? $ 20000 . (Enter a numeric response using an integer.) When output is 10,000, what is the average variable cost? $| (Enter a numeric response using a real number rounded to two decimal places.) When output is 10,000, what is the average fixed cost? $ . (Enter a numeric response using a real number rounded to two decimal places.) Assuming that the cost curves have the usual shape, the dollar difference between average total costs and average variable costs as output increases

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

Financial Accounting

Authors: Jan Williams, Susan Haka

17th Edition

126000645X, 9781260006452

More Books

Students also viewed these Economics questions