. Refer to the above data. Total fixed cost is: A. $6.25. B. $100.00. C. $150.00
ID: 1173047 • Letter: #
Question
. Refer to the above data. Total fixed cost is:
A. $6.25.
B. $100.00.
C. $150.00.
D. $50.00.
16. Refer to the above data. The marginal cost curve would intersect the average variable cost curve at about:
A. 2 units of output.
B. 4 units of output.
C. 6 units of output.
D. 7 units of output.
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Refer to the above data. Total fixed cost is: $6.25. $100.00. $150.00. $50.00. Refer to the above data. The marginal cost curve would intersect the average variable cost curve at about: 2 units of output. 4 units of output. 6 units of output. 7 units of output.Explanation / Answer
15. Total fixed cost is given by multiplying average cost and quantiy at that average cost So it can be given by ($50x1) or ($25x2) or ($16.67x3) and is equal to $50.So correct answer is D. $50.00.
16.eThe marginal cost curve intersects the average cost curve at its lowest point( since the average cost curve is a U shaped curve, the lowest point is that point after which the average cost starts increasing after reaching the lowest value).SO in this case it is $65.00 which occurs at 4 units of output.SO correct answer is B. 4 units of output.
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