Consider the production of hamburgers. The average total cost (ATC) and average fixed cost (AFC) of producing hamburgers are illustrated in the graph to the right. Use the four-point curve drawing tool to graph the average variable cost of producing one, two, three, and four thousand hamburgers. Properly label this curve. Carefully follow the instructions above, and only draw the required objects. Cost (cents per unit) 26 24- 22- 20- 18- 16- 14- 12- 10- 8- 6- 4- 2- ATC AFC Quantity of hamburgers (in 1000s) Q

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
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Consider the production of hamburgers. The average total cost (ATC) and average fixed cost (AFC) of producing
hamburgers are illustrated in the graph to the right.
Use the four-point curve drawing tool to graph the average variable cost of producing one, two, three, and four thousand
hamburgers. Properly label this curve.
Carefully follow the instructions above, and only draw the required objects.
Cost (cents per unit)
26-
24-
22-
20-
18-
16-
14+
12-
10-
8-
6-
4-
2-
0+
0
ATC
3
AFC
4
2
Quantity of hamburgers (in 1000s)
Q
Transcribed Image Text:Consider the production of hamburgers. The average total cost (ATC) and average fixed cost (AFC) of producing hamburgers are illustrated in the graph to the right. Use the four-point curve drawing tool to graph the average variable cost of producing one, two, three, and four thousand hamburgers. Properly label this curve. Carefully follow the instructions above, and only draw the required objects. Cost (cents per unit) 26- 24- 22- 20- 18- 16- 14+ 12- 10- 8- 6- 4- 2- 0+ 0 ATC 3 AFC 4 2 Quantity of hamburgers (in 1000s) Q
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