Quantity of RadiosTotal Variable CostTotal Cost0 $251$13$382$28 3 $704$64 5 $1106$108 7$133 8 $185The fixed costs of production for this firm are:Group of answer choices$0$25$13can’t be determined with information provided 2)Quantity of RadiosTotal Variable CostTotal Cost0 $251$13$382$28 3 $704$64 5 $1106$108 7$133 8 $185The total variable cost of producing 5 radios is:Group of answer choices$190$110$90$85 3)Quantity of RadiosTotal Variable CostTotal Cost0 $251$13$382$28 3 $704$64 5 $1106$108 7$133 8 $185 The total cost of producing 7 radios is:Group of answer choices$140$153$158none of these is correct 4)Quantity of RadiosTotal Variable CostTotal Cost0 $251$13$382$28 3 $704$64 5 $1106$108 7$133 8 $185 The marginal cost of the 7th radio is:Group of answer choices$133$50$25none of these is correct 5)Quantity of RadiosTotal Variable CostTotal Cost0 $251$13$382$28 3 $704$64 5 $1106$108 7$133 8 $185 The average total cost of producing 7 radios is:Group of answer choices$19$22.57$3.57none of these is correct

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Answered: Quantity of Radios Total Variable Cost…

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter11: Price And Output Determination: Monopoly And Dominant Firms

Section: Chapter Questions

Problem 6E

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Quantity of Radios	Total Variable Cost	Total Cost
0		$25
1	$13	$38
2	$28
3		$70
4	$64
5		$110
6	$108
7	$133
8		$185

The fixed costs of production for this firm are:

Group of answer choices

$25

$13

can’t be determined with information provided

Quantity of Radios	Total Variable Cost	Total Cost
0		$25
1	$13	$38
2	$28
3		$70
4	$64
5		$110
6	$108
7	$133
8		$185

The total variable cost of producing 5 radios is:

Group of answer choices

$190

$110

$90

$85

Quantity of Radios	Total Variable Cost	Total Cost
0		$25
1	$13	$38
2	$28
3		$70
4	$64
5		$110
6	$108
7	$133
8		$185

The total cost of producing 7 radios is:

Group of answer choices

$140

$153

$158

none of these is correct

Quantity of Radios	Total Variable Cost	Total Cost
0		$25
1	$13	$38
2	$28
3		$70
4	$64
5		$110
6	$108
7	$133
8		$185

The marginal cost of the 7^th radio is:

Group of answer choices

$133

$50

$25

none of these is correct

Quantity of Radios	Total Variable Cost	Total Cost
0		$25
1	$13	$38
2	$28
3		$70
4	$64
5		$110
6	$108
7	$133
8		$185

The average total cost of producing 7 radios is:

Group of answer choices

$19

$22.57

$3.57

none of these is correct

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Quantity of Radios Total Variable Cost Total Cost 0 $25 1 $13 $38 2 $28 3 $70 4 $64 5 $110 6 $108 7 $133 8 $185 The fixed costs of production for this firm are: Group of answer choices $0