a. Complete the following table and answer two questions about costs. Instructions: Enter your responses rounded to the nearest whole dollar. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Rate of Output Total Cost Marginal Cost Average Cost 60 65$ 75 $ 105 $ 140 $ 180 s 5 $ 65 62 1 $ 2 10 $ 3 30 $ 20 35 $ 5 40 $ 5 b. What output has the lowest per-unit cost equal to marginal cost? units c. What is the value of fixed costs? %24

a. Complete the following table and answer two questions about costs. Instructions: Enter your responses rounded to the nearest whole dollar. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Rate of Output Total Cost Marginal Cost Average Cost 60 65$ 75 $ 105 $ 140 $ 180 s 5 $ 65 62 1 $ 2 10 $ 3 30 $ 20 35 $ 5 40 $ 5 b. What output has the lowest per-unit cost equal to marginal cost? units c. What is the value of fixed costs? %24

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter4: Extent (how Much) Decisions

Section: Chapter Questions

Problem 3MC

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