ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Given the cost information below, answer the following questions.
Output
Total Cost
$10.00
1
19.76
2
29.06
3
37.90
4
46.31
5
54.30
Instructions: Enter your answers rounded to two decimal places.
a. When output is 1, total variable cost is $
b. When output is 2, average fixed cost is $
c. When output is 3, average variable cost is $
d. When output is 4, average total cost is $
e. When output is 5, marginal cost is $
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Transcribed Image Text:Given the cost information below, answer the following questions. Output Total Cost $10.00 1 19.76 2 29.06 3 37.90 4 46.31 5 54.30 Instructions: Enter your answers rounded to two decimal places. a. When output is 1, total variable cost is $ b. When output is 2, average fixed cost is $ c. When output is 3, average variable cost is $ d. When output is 4, average total cost is $ e. When output is 5, marginal cost is $
Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially.
Instructions: Enter your answers as a whole number. If you are entering any numbers in thousands, such as "1000," do not use a
comma separator in your answer.
Average
Product
Marginal
Product
Labor
Total Output
10
1,000
100
100
20
4,000
300
30
300
500
40
16,000
400
50
500
900
60
36,000
expand button
Transcribed Image Text:Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. Instructions: Enter your answers as a whole number. If you are entering any numbers in thousands, such as "1000," do not use a comma separator in your answer. Average Product Marginal Product Labor Total Output 10 1,000 100 100 20 4,000 300 30 300 500 40 16,000 400 50 500 900 60 36,000
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