Output Total Fixed Cost Total Variable Total Cost Average Fixed Average Variable Average Total cost Marginal Cost 0     20         1   10           2             6 3   24           4           13.5   5     66         6             14 7   76           8     114

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 18RQ: What are four responses to the claim that people should not behave in the way described in this...
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Question
  1. Please complete the below table.

Output

Total
Fixed Cost

Total
Variable

Total
Cost

Average
Fixed

Average
Variable

Average
Total cost

Marginal
Cost

0

 

 

20

 

 

 

 

1

 

10

 

 

 

 

 

2

 

 

 

 

 

 

6

3

 

24

 

 

 

 

 

4

 

 

 

 

 

13.5

 

5

 

 

66

 

 

 

 

6

 

 

 

 

 

 

14

7

 

76

 

 

 

 

 

8

 

 

114

 

 

 

 

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