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c. When output is 3, average variable cost is $ d. When output is 4, average total cost is $ e. When output is 5, marginal cost is $

c. When output is 3, average variable cost is $ d. When output is 4, average total cost is $ e. When output is 5, marginal cost is $

Managerial Economics: A Problem Solving Approach
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
Chapter3: Benefits, Costs, And Decisions
Section: Chapter Questions
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Please help with my questions and on image ECO PT1 I need help with just c, d, and e. Thank you! I will give thumbs up if someone helps with my questions! :)

Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. Instructions: Enter your answers as a whole number. If you are entering any numbers in thousands, such as "1000," do not use a comma separator in your answer. Average Marginal Product Labor Total Output Product 10 1,000 100 100 20 4,000 300 30 300 500 40 16,000 400 50 500 900 60 36,000
Transcribed Image Text:Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. Instructions: Enter your answers as a whole number. If you are entering any numbers in thousands, such as "1000," do not use a comma separator in your answer. Average Marginal Product Labor Total Output Product 10 1,000 100 100 20 4,000 300 30 300 500 40 16,000 400 50 500 900 60 36,000
Given the cost information below, answer the following questions. Output Total Cost $10.00 1 19.76 2 29.06 3 37.90 4 46.31 5 54.30 Instructions: Enter your answers rounded to two decimal places. a. When output is 1, total variable cost is $ b. When output is 2, average fixed cost is $ c. When output is 3, average variable cost is $ d. When output is 4, average total cost is $ e. When output is 5, marginal cost is $
Transcribed Image Text:Given the cost information below, answer the following questions. Output Total Cost $10.00 1 19.76 2 29.06 3 37.90 4 46.31 5 54.30 Instructions: Enter your answers rounded to two decimal places. a. When output is 1, total variable cost is $ b. When output is 2, average fixed cost is $ c. When output is 3, average variable cost is $ d. When output is 4, average total cost is $ e. When output is 5, marginal cost is $
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