Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Use the following data to answer the followingthree questions: Total Output Total Cost 0$100 2196 4212 6310 8430 10570 In the table above, the marginal
Use the following data to answer the followingthree questions:
Total Output Total Cost
0$100
2196
4212
6310
8430
10570
In the table above, the marginal cost of the sixth unit is:
Group of answer choices
$310.
$49.
$98.
$210.
none of the above.
In the table above, when total output is 8 units, the average variable cost is:
Group of answer choices
$53.75.
$41.25.
$15.
$330.
indeterminable from the information given.
Average fixed cost of two units of output is:
Group of answer choices
$48.
$50.
$96.
$100.
196.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started