Average variable

Average variable - TABLE 2 Firm Output and Average Costs...

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Average variable, average fixed, and average total costs.  The firm's variable, fixed, and total  costs can all be calculated on an  average  or  per unit  basis. Table 2  reports the  average variable  costs, average fixed costs , and  average total costs  for the numerical example of Table 1
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Unformatted text preview: . TABLE 2 Firm Output and Average Costs Total product Average variable cost Average fixed cost Average total cost — — — 5 $4.00 $20.00 $24.00 15 2.66 6.66 9.33 23 2.61 4.35 6.96 27 2.96 3.70 6.66 29 3.45 3.45 6.90 30 4.00 3.33 7.33...
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This note was uploaded on 11/19/2011 for the course ECO 1310 taught by Professor Staff during the Fall '10 term at Texas State.

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