You are interested in starting to know your costs. Here is your information: in

Question

You are interested in starting to know your costs. Here is your information: in starting your own business, but need 10 15 20 25 7.8 7.6 7.4 7.2 TC 50 78 109 124 141 160 13. What is your marginal cost at 5 quantities? A. 3 B. 5.6 C. 3.8 D. 6.2 14. What is your marginal cost at 15 quantities? A. 3 B. 5.6 C. 3.8 D. 6.2 15. What is your fixed cost at 5 quantities? A. 10 B. 15 C. 25 D. 50 16. What is your average fixed cost at 20 quantities? A. 10 B. 5 C. 2.5 D. 2 17. What is your average variable cost at 10 quantities? A. 5.60 B. 5.90 C. 4.55 D. 4.40

Explanation / Answer

13.

Marginal cost at 5 quantities = (TC at 5 – TC at 0) ÷ (5 – 0)

                                                = (78 – 50) ÷ 5

                                                = 5.6

Answer: B

14.

Marginal cost at 15 quantities = (TC at 15 – TC at 10) ÷ (15 – 10)

                                                = (124 – 109) ÷ 5

                                                = 3

Answer: A

15.

Fixed cost at 5 quantities = TC at 0 quantity

                                          = 50

Answer: D

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