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Use your knowledge of cost functions to calculate the missed cost data in the accompanying table. Round your answers to two digits after thedecimal. Quantity
Use your knowledge of cost functions to calculate the missed cost data in the accompanying table.
Round your answers to two digits after thedecimal.
Quantity 0,1,2,3,4,
Marginal cost, 3-105$
Fixed cost 30$
Variable cost 2-64$
Total cost 4-380$
Average fixed cost,
Average variable cost 1-40$
Average total cost
What is the total cost when producing zerounits?
What is the marginal cost for the firstunit?
What is the average total cost when producing threeunits?
What is the average variable cost when producing fourunits?
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