Sapling Learning Suppose that your colleague has accidentally spilled coffee on

Question

Sapling Learning Suppose that your colleague has accidentally spilled coffee on his laptop and the file cost data has been damaged. Use your knowledge of cost functions to save the day (and your by determining the missing cost data. Round your answers to 2 digits after the decimal. your firm's s job) QuantityM 0 Marginal Cost Fixed Cost Variable Cost Total Cost AFC AVC ATC $4000 $68.00 $105.00 $50.00 $360.00 What is the average variable cost for the 4th unit? What is the What is the total cost when producing zero units? What is the mar the first unit? average total cost of the 3rd unit? cost for Number Number Number Number $ 45 S 63 $ 93 40

Explanation / Answer

Q MC FC VC TC AFC AVC ATC 0 50 0 1 40 50 40 90 50.00 40.00 90.00 2 28 50 68 68 25.00 34.00 59.00 3 105 50 173 223 16.67 57.67 74.33 4 137 50 310 360 12.50 77.50 90.00

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