Exhibit 21-3Marginal Physical TotalTotalProduct ofVariable MarginalVariable FixedInputInputVariable InputFixedCostCostCostOutput(units) (units)(units)(units)(dollars) (dollars) (dollars)1$500$01110(A)$500$200(F)125(B)$500$400(G)3145(C).$500$600(H).4160$500$800(1).5170$500$1000().Refer to Exhibit 21-3. The marginal cost figures in blanks (F) and (G), respectively, areO a. $2.00 and $1.33.b. $20.00 and $13.33.c. $2.00 and $1.60.O d. $2.00 and $2.66.

Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Exhibit 21-3 Marginal Physical Product of Total Total Variable Fixed Variable Input Fixed Variable Marginal Input Input Cost Cost Cost Output (units) (units) (units) (units) (dollars) (dollars) (dollars) 1 $500 $0 1 1 10 (A) $500 $200 (F). 2 1 25 (B) $500 $400 (G) 1 45 (C) $500 $600 (H) 4 1 60 (D) $500 $800 (1). 1 70 (E). $500 $1000 (). Refer to Exhibit 21-3. The marginal cost figures in blanks (F) and (G), respectively, are O a. $2.00 and $1.33. O b. $20.00 and $13.33. O c. $2.00 and $1.60. O d. $2.00 and $2.66.

Exhibit 21-3 Marginal Physical Product of Total Total Variable Fixed Variable Input Fixed Variable Marginal Input Input Cost Cost Cost Output (units) (units) (units) (units) (dollars) (dollars) (dollars) 1 $500 $0 1 1 10 (A) $500 $200 (F). 2 1 25 (B) $500 $400 (G) 1 45 (C) $500 $600 (H) 4 1 60 (D) $500 $800 (1). 1 70 (E). $500 $1000 (). Refer to Exhibit 21-3. The marginal cost figures in blanks (F) and (G), respectively, are O a. $2.00 and $1.33. O b. $20.00 and $13.33. O c. $2.00 and $1.60. O d. $2.00 and $2.66.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Exhibit 21-3
Marginal Physical Total
Total
Product of
Variable Marginal
Variable Fixed
Input
Input
Variable Input
Fixed
Cost
Cost
Cost
Output
(units) (units)
(units)
(units)
(dollars) (dollars) (dollars)
1
$500
$0
1
1
10
(A)
$500
$200
(F)
1
25
(B)
$500
$400
(G)
3
1
45
(C).
$500
$600
(H).
4
1
60
$500
$800
(1).
5
1
70
$500
$1000
().
Refer to Exhibit 21-3. The marginal cost figures in blanks (F) and (G), respectively, are
O a. $2.00 and $1.33.
b. $20.00 and $13.33.
c. $2.00 and $1.60.
O d. $2.00 and $2.66.

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