Type your homework assignments. Show necessary reasoning and calculations that lead to your answers. 1. Consider the following cost information for a pizzeria: Quantity Total cost Variable Cost 0 dozen pizzas $300 SO 1 350 50 2 390 190 3 420 4 450 5 490 6 540 a. 120 150 190 240 How much is the pizzeria’s fixed cost? b. I) Calculate the marginal cost per dozen pizzas using the information on total cost. II) Also, calculate the marginal cost per dozen pizzas using the information on variable cost. What is the relationship between these sets of numbers? Comment. Quantity Total cost Variable Cost MC (IMC (II) 0 dozen $300 SO 1 350 50 2 390 90 3 420 120 14 450 150 5 490 190 6 540 240
Type your homework assignments. Show necessary reasoning and calculations that lead to your answers. 1. Consider the following cost information for a pizzeria: Quantity Total cost Variable Cost 0 dozen pizzas $300 SO 1 350 50 2 390 190 3 420 4 450 5 490 6 540 a. 120 150 190 240 How much is the pizzeria’s fixed cost? b. I) Calculate the marginal cost per dozen pizzas using the information on total cost. II) Also, calculate the marginal cost per dozen pizzas using the information on variable cost. What is the relationship between these sets of numbers? Comment. Quantity Total cost Variable Cost MC (IMC (II) 0 dozen $300 SO 1 350 50 2 390 90 3 420 120 14 450 150 5 490 190 6 540 240
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 3CQQ
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