Question: The monthly average variable costs, average total costs, and marginal costs for Alpacky, a typical alpaca wool-manufacturing firm in Peru, are shown in the table

The monthly average variable costs, average total costs, and marginal costs for Alpacky, a typical alpaca wool-manufacturing firm in Peru, are shown in the table below. All firms in the industry share the same costs as Alpacky, and the industry is in long-run equilibrium.

  1. 22.12
  2. 21.50
  3. 25. 20

Instructions: Round your answer to the nearest cent.

The market price is $.

Output
(units of wool)

AVC
($)

ATC
($)

MC
($)

0





22.00

1

22.00

32.00





16.00

2

19.00

24.00





18.00

3

18.67

22.00





20.00

4

19.00

21.50





25.00

5

20.20

22.20


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