Fill in the blanks below with the missing information. Output quantity Total variable cost Total cost 0 $0 $250 25 450 50 300 X 75 375 100 600 850 125 X 1125 150 1200 X 175 1875 200 2000 2250
Fill in the blanks below with the missing information. Output quantity Total variable cost Total cost 0 $0 $250 25 450 50 300 X 75 375 100 600 850 125 X 1125 150 1200 X 175 1875 200 2000 2250
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
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Question
Your company paid a corporate spy to find out the short-run cost of a competitor. The spy obtained the information below on your competitor's quantities, total variable cost, and total cost. An X appears in place of numbers the spy failed to get. Your boss asks you to calculate some of the information the spy was not able to obtain. Fill in the blanks below with the missing information.
Output quantity | Total variable cost | Total cost |
0 | $0 | $250 |
25 | 450 | |
50 | 300 | X |
75 | 375 | |
100 | 600 | 850 |
125 | X | 1125 |
150 | 1200 | X |
175 | 1875 | |
200 | 2000 | 2250 |
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