2. The following table depicted a computer manufacturer's total cost of producing computer: Quantity Price 500,000 1 540,000 560,000 570,000 4 590,000 620,000 6. 660,000 7 720,000 8. 800,000 920,000 10 1,100,000 b) For each level of output, calculate the variable cost (VC). For each level of output except zero output, calculate the average variable cost (AVC), average total cost (ATC), and average fixed cost (AFC). What is the minimum-cost output? 2. 3.

2. The following table depicted a computer manufacturer's total cost of producing computer: Quantity Price 500,000 1 540,000 560,000 570,000 4 590,000 620,000 6. 660,000 7 720,000 8. 800,000 920,000 10 1,100,000 b) For each level of output, calculate the variable cost (VC). For each level of output except zero output, calculate the average variable cost (AVC), average total cost (ATC), and average fixed cost (AFC). What is the minimum-cost output? 2. 3.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 7PA

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