2. Healthy Harry's Juice Bar has the following cost schedule (in tk.): Q(Quantity) Variable Cost Total cost 0 0 30 1 10 40 2 25 55 3 45 75 4 70 100 5 100 130 6 135 165 (i) Calculate average variable cost, average total cost, and marginal cost for each quantity. (ii) Graph all three curves. What is the relationship between the marginal cost curve and average total cost curve? Between the marginal cost curve and average variable cost curve? Explain. [Hints: Take quantity in x-axis and cost in y-axis]
2. Healthy Harry's Juice Bar has the following cost schedule (in tk.): Q(Quantity) Variable Cost Total cost 0 0 30 1 10 40 2 25 55 3 45 75 4 70 100 5 100 130 6 135 165 (i) Calculate average variable cost, average total cost, and marginal cost for each quantity. (ii) Graph all three curves. What is the relationship between the marginal cost curve and average total cost curve? Between the marginal cost curve and average variable cost curve? Explain. [Hints: Take quantity in x-axis and cost in y-axis]
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: The Cost Of Production
Section: Chapter Questions
Problem 9PA
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![2. Healthy Harry's Juice Bar has the following cost schedule (in tk.):
Q(Quantity)
Variable Cost
Total cost
0
0
30
1
10
40
2
25
55
3
45
75
4
70
100
5
100
130
6
135
165
Calculate average variable cost, average total cost, and marginal cost for
each quantity.
(ii) Graph all three curves. What is the relationship between the marginal cost
curve and average total cost curve? Between the marginal cost curve and
average variable cost curve? Explain.
[Hints: Take quantity in x-axis and cost in y-axis]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa077971f-377b-48e9-80b6-5e04f17147b9%2F6ca9c5ce-9a70-49ad-ad0e-353b70147750%2Fy682oxj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2. Healthy Harry's Juice Bar has the following cost schedule (in tk.):
Q(Quantity)
Variable Cost
Total cost
0
0
30
1
10
40
2
25
55
3
45
75
4
70
100
5
100
130
6
135
165
Calculate average variable cost, average total cost, and marginal cost for
each quantity.
(ii) Graph all three curves. What is the relationship between the marginal cost
curve and average total cost curve? Between the marginal cost curve and
average variable cost curve? Explain.
[Hints: Take quantity in x-axis and cost in y-axis]
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