Using the numbers representing short run costs in the chart below, calculate the number that belongs in the blank space. q = quantity, TFC = Total Fixed Cost, TVC = Total Variable Cost, AVC = Average Variable Cost Recall that an "X" in the chart means that no number goes in that space. TFC TVC AVC 300 1 300 150 75 2 300 270 135 300 370 123.33 4 300 480 300 650 130 300 840 140 6
Using the numbers representing short run costs in the chart below, calculate the number that belongs in the blank space. q = quantity, TFC = Total Fixed Cost, TVC = Total Variable Cost, AVC = Average Variable Cost Recall that an "X" in the chart means that no number goes in that space. TFC TVC AVC 300 1 300 150 75 2 300 270 135 300 370 123.33 4 300 480 300 650 130 300 840 140 6
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter3: Benefits, Costs, And Decisions
Section: Chapter Questions
Problem 3.7IP
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