I need help figuring out the graph. I already know the fixed cost is $280. Consider the following cost information for a pizzeria:QuantityTotal Cost Variable Cost(Dozens of pizzas) (Dollars)(Dollars)28013204023507033801004420140470190530250The pizzeria's fixed cost is$280 Complete the third column of the following table by calculating the marginal cost per dozen pizzas using the information on total cost. Then completethe final column by calculating the marginal cost per dozen pizzas using the information on variable cost.QuantityTotal CostMarginal CostVariable CostMarginal CostUsing Total CostUsing Variable Cost(Dozens of pizzas)(Dollars)(Dollars)(Dollars)(Dollars)2801320402350703801004420140470190530250True or False: It doesn't matter whether you compute marginal cost using total cost or variable cost.TrueFalse

Total cost is the sum of all costs incurred during the production process. The total cost can be…

Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of pizzas) (Dollars) (Dollars) 280 1 320 40 2 350 70 3 380 100 4 420 140 5 470 190 6 530 250 The pizzeria's fixed cost is $280

Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of pizzas) (Dollars) (Dollars) 280 1 320 40 2 350 70 3 380 100 4 420 140 5 470 190 6 530 250 The pizzeria's fixed cost is $280

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

Problem 3.7IP

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Question

I need help figuring out the graph. I already know the fixed cost is $280.

Consider the following cost information for a pizzeria:
Quantity
Total Cost Variable Cost
(Dozens of pizzas) (Dollars)
(Dollars)
280
1
320
40
2
350
70
3
380
100
4
420
140
470
190
530
250
The pizzeria's fixed cost is
$280

Complete the third column of the following table by calculating the marginal cost per dozen pizzas using the information on total cost. Then complete
the final column by calculating the marginal cost per dozen pizzas using the information on variable cost.
Quantity
Total Cost
Marginal Cost
Variable Cost
Marginal Cost
Using Total Cost
Using Variable Cost
(Dozens of pizzas)
(Dollars)
(Dollars)
(Dollars)
(Dollars)
280
1
320
40
2
350
70
380
100
4
420
140
470
190
530
250
True or False: It doesn't matter whether you compute marginal cost using total cost or variable cost.
True
False

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