Variable Output -42 1 2 3 TVC TC AFC 400 700 O $200 O $250 1000 4 Use the above table and assume fixed costs of $1000 33. At an output of 4, AFC is: 1400 AVC O $500 O $1000 O Cannot be determined ATC Marginal Cost
Variable Output -42 1 2 3 TVC TC AFC 400 700 O $200 O $250 1000 4 Use the above table and assume fixed costs of $1000 33. At an output of 4, AFC is: 1400 AVC O $500 O $1000 O Cannot be determined ATC Marginal Cost
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...
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Question
![Variable
Output
1
O $200
O $250
TVC
O $500
400
700
2
3
4
1400
Use the above table and assume fixed costs of $1000
33. At an output of 4, AFC is:
1000
TC AFC
O
$1000
O Cannot be determined
AVC
ATC
Marginal Cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F469c86b4-1af9-4766-9224-a55e412c2c0c%2F0cb3ca0f-df5f-4760-b126-a1503fab3ffb%2F1qhunki_processed.png&w=3840&q=75)
Transcribed Image Text:Variable
Output
1
O $200
O $250
TVC
O $500
400
700
2
3
4
1400
Use the above table and assume fixed costs of $1000
33. At an output of 4, AFC is:
1000
TC AFC
O
$1000
O Cannot be determined
AVC
ATC
Marginal Cost
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