Assume the following total cost schedule for a perfectly ...

[eboni]

Question 1

Assume the following total cost schedule for a perfectly competitive firm.

Output	TVC ($)	TFC ($)
0	0	100
1	40	100
2	70	100
3	120	100
4	180	100
5	250	100
6	330	100

TABLE 9-1

Refer to Table 9-1. The total cost of producing 6 units of output is
◦ $100.
◦ $330.
◦ $71.67.
◦ $230.
◦ $430.

Question 2

Assume the following total cost schedule for a perfectly competitive firm.

Output	TVC ($)	TFC ($)
0	0	100
1	40	100
2	70	100
3	120	100
4	180	100
5	250	100
6	330	100

TABLE 9-1

Refer to Table 9-1. If the firm is producing at an output level of 2 units, the ATC is ________ and the AVC is ________.
◦ $140; $40
◦ $85; $35
◦ $70; $35
◦ $100; $70
◦ $50; $50

[ryanb]

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