Competitive Firm Total Total Output Fixed Variable (Q) Costs (TFC) Costs (TVC) $30.00 $0.00 3 $30.00 $40.00 6. $30.00 $90.00 9. $30.00 $130.00 12 $30.00 $190.00 15 $30.00 $260.00 Refer to Table Cost.EX2. For the 12th unit, the marginal cost is about O $18.33 O $20.00 O $2.50 O $15.83

Competitive Firm Total Total Output Fixed Variable (Q) Costs (TFC) Costs (TVC) $30.00 $0.00 3 $30.00 $40.00 6. $30.00 $90.00 9. $30.00 $130.00 12 $30.00 $190.00 15 $30.00 $260.00 Refer to Table Cost.EX2. For the 12th unit, the marginal cost is about O $18.33 O $20.00 O $2.50 O $15.83

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...

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Question

100%

Table Cost.EX2: Costs and Outputs for a
Competitive Firm
Total
Total
Output
Fixed
Variable
(Q)
Costs (TFC)
Costs (TVC)
$30.00
$0.00
3.
$30.00
$40.00
6.
$30.00
$90.00
9.
$30.00
$130.00
12
$30.00
$190.00
15
$30.00
$260.00
Refer to Table Cost.EX2. For the 12th unit, the marginal cost is about
$18.33
$20.00
O $2.50
O $15.83

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