ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Various measures of cost
Douglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows the company’s total cost of production at various production quantities.
Fill in the remaining cells of the following table.
Quantity
|
Total Cost
|
Marginal Cost
|
Fixed Cost
|
Variable Cost
|
|
|
---|---|---|---|---|---|---|
(Pairs)
|
(Dollars)
|
(Dollars)
|
(Dollars)
|
(Dollars)
|
(Dollars per pair)
|
(Dollars per pair)
|
0 | 120 |
|
|
— | — | |
|
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1 | 200 |
|
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2 | 240 |
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3 | 285 |
|
|
|
|
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4 | 340 |
|
|
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|
|
|
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5 | 425 |
|
|
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6 | 540 |
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|
|
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