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You are given the following total costs for a production facility for digital watches: Number of units Produced ('000) 0 10 20 30 40 Total
You are given the following total costs for a production facility for digital watches:
Number of units
Produced ('000) 0 10 20 30 40
Total Cost ($'000)4001,4002,0002,5003,500
Assume the production facility produces where average variable costs are minimized. If the price is $80 per watch, what is your gain or loss? (If a loss, enter it as a negative number. Don't enter this as 'thousands of dollars' -- take into account that costs and output units are in thousands. For example, if the answer is $800,000, enter that as 800000, not as 800.)
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