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Total Output -Total Cost … Show more Total Output -Total C

Paper help Economics Total Output -Total Cost … Show more Total Output -Total C

Economics

Total Output -Total Cost … Show more Total Output -Total C

Total Output -Total Cost … Show more Total Output -Total Cost 0 – $100 2 – 196 4 – 212 6 – 310 8 – 430 10 – 570 7. In the table above, when total output is 8 units, the average variable cost is a. $3,440. b. AVC cannot be determined from the information given. c. $41.25. d. $53.75. e. $12.5. 8. In the table above, if for an output of 11 units the average variable cost is $52, a. the total variable cost is $576. b. the total variable cost is $622. c. the total cost of 11 units of output will be $652. d. the marginal cost of the eleventh unit is $102. e. the marginal cost of the eleventh unit is $52. Price -Quantity -Marginal Cost $12 – 1,000 – $3 11 – 2,000 – 4 10 – 3,000 – 5 9 – 4,000 – 6 8 – 5,000 – 7 7 – 6,000 – 8 18. What is the profit-maximizing output level for the monopoly firm described in the table above if the firm is earning a positive economic profit? a. 2,000 units b. 3,000 units c. 4,000 units d. 5,000 units e. None of the above. 19. What price will be charged by the profit-maximizing firm described in the table above if the firm is earning a positive economic profit? a. $8 b. $9 c. $10 d. $11 e. $12 • Show less

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