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Author Question: Assume the following total cost schedule for a perfectly competitive firm.OutputTVC ($)TFC ($)0 ... (Read 151 times)

mt05945

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Question 1

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

OutputTVC ($)TFC ($)
0    0100
1  40100
2  70100
3120100
4180100
5250100
6330100

TABLE 9-1

Refer to Table 9-1. If the firm is producing at an output level of 4 units, the ATC is ________ and the AVC is ________.
◦ $70; $35
◦ $180; $100
◦ $25; $45
◦ $280; $180
◦ $70; $45

Question 2

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

OutputTVC ($)TFC ($)
0    0100
1  40100
2  70100
3120100
4180100
5250100
6330100

TABLE 9-1

Refer to Table 9-1. If the firm is producing at an output level of 6 units, the ATC is ________ and the AVC is ________.
◦ $55; $80
◦ $71.67; $55
◦ $80; $55
◦ $55; $16.67
◦ $38.33; $16.67


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Marked as best answer by mt05945 on Oct 12, 2022

mamboz

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mt05945

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it


billybob123

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Reply 3 on: Yesterday
:D TYSM

 

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