Author Question: Assume the following total cost schedule for a perfectly competitive firm.OutputTVC ($)TFC ($)0 ... (Read 153 times)

mt05945 · **on:** Oct 12, 2022

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. 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.

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 6 units, the ATC is ________ and the AVC is ________.
◦ $55; $80
◦ $71.67; $55
◦ $80; $55
◦ $55; $16.67
◦ $38.33; $16.67

mamboz · **Reply #1 on:** Oct 12, 2022

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