L(workers)01234567Q(units)090210320420510590660MPL(units)FC(S)greater thanless thanequal tonot enough informationVCTC AFC AVCATCMC(S) (S) (S) (S) (S)The average fixed cost of producing 590 gadgets is _____ the average fixed cost ofproducing 510 gadgets. L(workers)012AWN34567Q(units)090210320420510590660MPL FC(units) (S)VCO greater thanO less thanequal tonot enough informationTC(S)AFC(S)AVC ATC MC(S) (S) (S)The average total cost of producing 590 gadgets is _____ the average total cost ofproducing 510 gadgets.

Cost refers to the value of money that a business had to expend to manufacture its goods or…

L (workers) 0 1 2 3 4 5 6 7 Q (units) 0 90 210 320 420 510 590 660 MPL FC (units) (S) greater than less than equal to VC TC AFC ($) ($) AVC ATC MC (S) (S) (S) ($) The average fixed cost of producing 590 gadgets is the average fixed cost of producing 510 gadgets.

L (workers) 0 1 2 3 4 5 6 7 Q (units) 0 90 210 320 420 510 590 660 MPL FC (units) (S) greater than less than equal to VC TC AFC ($) ($) AVC ATC MC (S) (S) (S) ($) The average fixed cost of producing 590 gadgets is the average fixed cost of producing 510 gadgets.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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Question

L
(workers)
0
1
2
3
4
5
6
7
Q
(units)
0
90
210
320
420
510
590
660
MPL
(units)
FC
(S)
greater than
less than
equal to
not enough information
VC
TC AFC AVC
ATC
MC
(S) (S) (S) (S) (S)
The average fixed cost of producing 590 gadgets is _____ the average fixed cost of
producing 510 gadgets.

L
(workers)
0
1
2
AWN
3
4
5
6
7
Q
(units)
0
90
210
320
420
510
590
660
MPL FC
(units) (S)
VC
O greater than
O less than
equal to
not enough information
TC
(S)
AFC
(S)
AVC ATC MC
(S) (S) (S)
The average total cost of producing 590 gadgets is _____ the average total cost of
producing 510 gadgets.

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