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insherro insherro
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7 years ago
Use the following table to answer questions a-c.

Output (Q):      0   1   2   3   4     5      6
Total Cost (TC):      $36   $45   $52   $61   $74   $91   $110

a. What is the average fixed cost of producing 4 units of output?
b. What is the marginal cost of producing the third unit of output?
c. At what level of output does the firm encounter diminishing marginal returns? How do you know?
Textbook 
Economics for Managers

Economics for Managers


Edition: 3rd
Author:
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University of Ottawa - Economics for Managers
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andyborziandyborzi
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#1
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7 years ago
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insherro Author
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7 years ago
Good timing, thanks!
mcraver1
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Yesterday
This helped my grade so much Perfect
Jodias
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2 hours ago
Smart ... Thanks!
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