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Author Question: If the average variable cost of the fifth hat is $50, then the total variable cost of five hats is (Read 53 times)

burchfield96

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on: Apr 19, 2019

Question 1

If a firm's total costs are $100 when 10 units of output are produced and $105 when 11 units of output are produced, the marginal cost of the 11th unit is


◦ $1.
◦ $3.
◦ $5.
◦ $9.36.

Question 2

If the average variable cost of the fifth hat is $50, then the total variable cost of five hats is


◦ $10.
◦ $250.
◦ $1800.
◦ indeterminate from this information.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by burchfield96 on Apr 19, 2019

mistyjohnson

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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burchfield96

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

xthemafja

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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