Your cousin Vinnie owns a painting company with fixed costs of $250 and the following schedule for variable costs: Quantity (Houses Painted per Month) 1 2 3 4 5 6 7 The efficient scale is Variable Cost (Dollars) 8 20 50 160 houses. 320 500 720 Average Fixed Cost Average Variable Cost Average Total Cost (Dollars) (Dollars) (Dollars)

Your cousin Vinnie owns a painting company with fixed costs of $250 and the following schedule for variable costs: Quantity (Houses Painted per Month) 1 2 3 4 5 6 7 The efficient scale is Variable Cost (Dollars) 8 20 50 160 houses. 320 500 720 Average Fixed Cost Average Variable Cost Average Total Cost (Dollars) (Dollars) (Dollars)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. Problems and Applications Q7 Your cousin Vinnie owns a painting company with fixed costs of $150 and the following schedule for variable costs: Quantity (Houses Painted per Month) 1 2 3 4 5 6 The efficient scale is Variable Cost Average Fixed Cost Average Variable Cost (Dollars) (Dollars) (Dollars) 15 35 60 90 135 240 480 houses. Average Total Cost (Dollars) Save & Continue Continue without saving