cost2a - 52 . 4. The MC of the output level 14 is equal to...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Additional Problem 2: Production Costs The figure below shows the three total cost curves. Complete the sentences given below. 1. The ATC of producing 10 units of X is equal too $ 2.40 . 2. The ATC of 20 units of X is the same as the ATC of 10 units of X. 3. The TC of producing 21 units of X is equal to $
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 52 . 4. The MC of the output level 14 is equal to $ 2 . 5. The AVC of producing 10 units of X is equal to $ 1.40 . 6. The AFC of producing 21 units of X is $ 10/21 = $ .48 . 7. AVC = AFC at the output level 3 ....
View Full Document

This note was uploaded on 10/26/2009 for the course ECON 180-004-20 taught by Professor Bresnock during the Fall '09 term at UCLA.

Ask a homework question - tutors are online