If you know that total fixed cost is $400, total variable cost is $200, and total output is 4 units, then average total cost must be:  A. $150 B. $300 C. $450 D. $600

Total Cost = C(x) = 0,005x^3 - 0,49x Lnx +5x Find : a. Average Cost Function b. Average Cost Minimum

Marginal cost can be calculated both from total cost and total variable cost and is not affected by total fixed cost True/False

Labor (workers) Output(units) Total fixed cost, TFC (dollars) Total variable cost, TVC (dollars) Total cost, TC (dollars) 0 0 20 0 20 1 4 20 25 45 2 9 20 50 70 3 13 20 75 95 4 16 20 100 120 5 18 20 125 145 Using the data in the above table, the average fixed cost of producing 16 units is   $1.25 a unit.   $1.54 a unit.   $2.22 a unit.   $1.11 a unit.

The cost information in the following table shows that as production increases Quantity produced/day Total cost Variable cost 0 $50 0 1 $75 $50 2 $110 $75 3 $155 $100 4 $210 $150 5 $270 $175 6 $345 $250   A.) variable cost increases at a uniform rate. b.) variable cost increases and then eventually falls c.) average total cost always falls d.) marginal cost eventually increases

Which of the following statements about average and marginal cost is INCORRECT? (2)(1) The marginal cost curve cuts both the average cost and average variable costcurves at their minimum points;(2) The marginal cost curve cuts both the average fixed cost and average variablecost curves at their minimum points;(3) The marginal cost curve lies below the average cost curve when average costis decreasing;(4) Marginal cost is the change in total cost when one extra unit of output isproduced.