Exhibit 11-4 Units of Output Variable Cost Total Cost Marginal Cost (dollars) (dollars) (dollars) 80 60 140 60 2 100 180 40 120 200 20 4 160 240 40 5 210 290 50 300 380 90 Refer to Exhibit 11-4. How much are average fixed costs (in dollars) at 4 units of output? 20 40 60 840

Exhibit 11-4 Units of Output Variable Cost Total Cost Marginal Cost (dollars) (dollars) (dollars) 80 60 140 60 2 100 180 40 120 200 20 4 160 240 40 5 210 290 50 300 380 90 Refer to Exhibit 11-4. How much are average fixed costs (in dollars) at 4 units of output? 20 40 60 840

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 19RQ: What shapes would you generally expect each of the following cost curves to have: fixed costs,...

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Question

Exhibit 11-4
Units of Output
Variable Cost
Total Cost
Marginal Cost
(dollars)
(dollars)
(dollars)
80
60
140
60
2
100
180
40
120
200
20
4
160
240
40
5
210
290
50
300
380
90
Refer to Exhibit 11-4. How much are average fixed costs (in dollars) at 4 units of output?
20
40
60
840

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