referring to the cost table above, what is the average variable cost if quantity produced equals 400 units?a.$20.000b.$57.50c.$37.50d.$23000 Output FixedCostAverageFixed CostVariableCostAverageVariable CostTotalCostAverageTotal CostMarginalCost$15,000$0100$15,000$3,000200$15,000$5,000300$15,000$6,000400$15,000$8,000500$15,000$12,000Referring to the cost table above, what is the Average Variable Cost if quanproduced equals 400 units?O $20.00O $57.50

Average variable cost varies with the output produced

Answered: referring to the cost table above, what…

referring to the cost table above, what is the average variable cost if quantity produced equals 400 units? a.$20.000 b.$57.50 c.$37.50 d.$23000

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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Question

referring to the cost table above, what is the average variable cost if quantity produced equals 400 units?

a.$20.000

b.$57.50

c.$37.50

d.$23000

Output Fixed
Cost
Average
Fixed Cost
Variable
Cost
Average
Variable Cost
Total
Cost
Average
Total Cost
Marginal
Cost
$15,000
$0
100
$15,000
$3,000
200
$15,000
$5,000
300
$15,000
$6,000
400
$15,000
$8,000
500
$15,000
$12,000
Referring to the cost table above, what is the Average Variable Cost if quan
produced equals 400 units?
O $20.00
O $57.50

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