Answer the question on the basis of the following cost data for a purely competi

Question

Answer the question on the basis of the following cost data for a purely competitive seller in the computer industry Total TotalFixed Output Cost $50 50 50 50 50 50 50 Total Variable Total Cost $50 120 170 200 270 350 440 SO 70 120 150 220 300 390 2 3 6 At 5 units of output, average fixed cost, average variable cost, and average total cost are: O s5, $25 and $30 respectively O $10. $70, and $80 respectively. O s50. $40, and $90 respectively. O s10, $60, and $70 respectively O Type here to search

Explanation / Answer

Answer.) $10, $60 and $70 respectively.

Average Fixed Cost = 50/5 = $10

Average variable Cost = 300/5 = $60

Average total cost = 350/5 = $70

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