Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

When Ajax Co. produced 3 units of output per week, its total xed cost was $150 and total variable cost was $50. When output increased

image text in transcribed
When Ajax Co. produced 3 units of output per week, its total xed cost was $150 and total variable cost was $50. When output increased to 4 units per week, total xed cost remained at $150 and total variable cost increased to $65. When output was 4 units per week, total cost was $ . (Enter your response as an integer.) When output was 4 units per week, average variable cost was $ . (Enter your response as a real number rounded to two decimal places.) When output was 4 units per week, average fixed cost was $ . (Enter your response as a real number rounded to two decimal places.) When output was 4 units per week, average total cost was $ . (Enter your response as a real number rounded to two decimal places.) The marginal cost of producing the fourth units was $ . (Enter your response as a real number rounded to two decimal places.)

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

Microeconomics

Authors: Paul Krugman, Robin Wells

4th Edition

1464143870, 9781464143878

More Books

Students also viewed these Economics questions