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wrote...
Posts: 203
A month ago
Output  Total Cost
015
125
233
340
448
558
670

Table 8.5


Refer to Table 8.5. The total fixed cost of producing two units is:

▸ $0.

▸ $8.

▸ $11.

▸ $15.
Textbook 
Microeconomics: Principles, Applications, and Tools
Edition: 8th
Authors:
Read 301 times
12 Replies
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wrote...
A month ago
$15.
wrote...
A month ago
You make an excellent tutor!
wrote...
A month ago
Output  Total Cost
015
125
233
340
448
558
670

Table 8.5


Refer to Table 8.5. The marginal cost of the third unit of output is:

▸ $0.

▸ $7.

▸ $8.

▸ $40.
wrote...
A month ago
$7.
wrote...
A month ago
Output  Total Cost
015
125
233
340
448
558
670

Table 8.5


Refer to Table 8.5. The average variable cost of producing five units of output is:

▸ $0.

▸ $8.60.

▸ $10.

▸ $11.60.
wrote...
A month ago
$8.60.
wrote...
A month ago
Thanks for your help!
wrote...
A month ago
Output  Total Cost
015
125
233
340
448
558
670

Table 8.5


Refer to Table 8.5. The total variable cost of producing five units of output is:

▸ $8.60.

▸ $43.

▸ $48.

▸ $58.
wrote...
A month ago
$43.
wrote...
A month ago
Output  Total Cost
015
125
233
340
448
558
670

Table 8.5


Refer to Table 8.5. The firm experiences diminishing returns beginning with the ________ unit.

▸ first

▸ second

▸ third

▸ fourth
wrote...
A month ago
fourth
wrote...
A month ago
Helps a lot... Now I'm ready for my quiz
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