ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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(c) The cost function of a firm is given below:
0.
1
3
4
Output
Total Cost (7)
60
80
100
111
116
Find: (i) Total fixed cost, (ii) Total variable cost, (iii) Average fixed cost, (iv) Average variable
cost, (v) Marginal cost
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Transcribed Image Text:(c) The cost function of a firm is given below: 0. 1 3 4 Output Total Cost (7) 60 80 100 111 116 Find: (i) Total fixed cost, (ii) Total variable cost, (iii) Average fixed cost, (iv) Average variable cost, (v) Marginal cost
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