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The cost structure of a manufacturer of microchips is described in the table shown below. The firm's fixed costs equal $15,000 per day. Calculate the
The cost structure of a manufacturer of microchips is described in the table shown below. The firm's fixed costs equal $15,000 per day. Calculate the average variable cost, average fixed cost, and average total cost at each output level. (Your answers should be rounded to the nearest cent.) Output Total Cost of Average Average Average (microchips per day) Output Variable Cost ($) Fixed Cost ($) Total Cost ($) 0 $15,000 35,000 65,000 60,000 100,000 85,000 155,000 110,000 225,000 135,000 330,000 160,000 470,000
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