Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The table below shows some of the costs of production for a the Clean-Cut Chain Saws manufacturing company: a) Complete the table. Round your answers

image text in transcribed
image text in transcribed
The table below shows some of the costs of production for a the Clean-Cut Chain Saws manufacturing company: a) Complete the table. Round your answers to nearest whole numbers. Total Variable Average Average Average Output Total Cost Cost Marginal Cost Total Cost Variable Cost Fixed Cost $ 2,100 $ 1 3,300 1200 $ $ $ $ 2 4,400 100 w 5 ,400 100 4 6,200 300 6,600 100 6 7,000 400 7,506 50 8, 200 700 9,200 b. What is the value of total fixed cost? $ c. What is the most productive level of output? units d. At what output is economic capacity? Output: units e. If TFC doubled, what is the marginal cost of the 8th unit? Marginal cost: $

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_2

Step: 3

blur-text-image_3

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

Fundamentals of Corporate Finance

Authors: Richard Brealey, Stewart Myers, Alan Marcus

8th edition

77861620, 978-0077861629

More Books

Students also viewed these Economics questions

Question

Define Administration?

Answered: 1 week ago

Question

Define Decision making

Answered: 1 week ago

Question

What are the major social responsibilities of business managers ?

Answered: 1 week ago