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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

# 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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