The table below presents the average and marginal cost of producing cheeseburgers per hour at a...
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The table below presents the average and marginal cost of producing cheeseburgers per hour at a roadside diner. Cheeseburger Production Costs Quantity (burgers Average Variable per hour) Average Total Cost (dollars) Marginal Cost (dollars) Cost (dollars) 0 10 $1.00 $6.60 $1.00 20 0.70 3.50 0.40 30 0.70 2.57 0.70 40 0.78 2.18 1.00 50 0.88 2.00 1.30 60 1.07 2.00 2.00 70 1.34 2.14 3.00 80 1.74 2.44 4.50 90 2.23 2.86 6.20 100 2.81 3.37 8.00 a. When moving from producing a quantity of 40 cheeseburgers per hour to 50 cheeseburgers per hour, the average total cost of production is falling and the marginal cost of cheeseburger production is rising b. When moving from producing a quantity of 20 cheeseburgers per hour to 30 cheeseburgers per hour, the average variable cost of production is ing and the average total cost of cheeseburger production is falling The table below presents the average and marginal cost of producing cheeseburgers per hour at a roadside diner. Cheeseburger Production Costs Quantity (burgers Average Variable per hour) Average Total Cost (dollars) Marginal Cost (dollars) Cost (dollars) 0 10 $1.00 $6.60 $1.00 20 0.70 3.50 0.40 30 0.70 2.57 0.70 40 0.78 2.18 1.00 50 0.88 2.00 1.30 60 1.07 2.00 2.00 70 1.34 2.14 3.00 80 1.74 2.44 4.50 90 2.23 2.86 6.20 100 2.81 3.37 8.00 a. When moving from producing a quantity of 40 cheeseburgers per hour to 50 cheeseburgers per hour, the average total cost of production is falling and the marginal cost of cheeseburger production is rising b. When moving from producing a quantity of 20 cheeseburgers per hour to 30 cheeseburgers per hour, the average variable cost of production is ing and the average total cost of cheeseburger production is falling
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