Refer to the table to the right which shows cost data for Lotus Lanterns, a producer...

  

Transcribed Image Text:

Refer to the table to the right which shows cost data for Lotus Lanterns, a producer of whimsical night lights. What is the average variable cost per unit of production when the firm produces 90 lanterns? Variable Cost Total Cost Quantity of lanterns Fixed Cost (Dollars) (Dollars) (Dollars) Average Total Cost (Dollars) 75 200 170 370 4.93 80 200 230 430 5.36 90 200 7.67 100 200 810 115 200 11.8 117 200 1264 1464 12.5 120 200 1480 Refer to the table to the right which shows cost data for Lotus Lanterns, a producer of whimsical night lights. What is the average variable cost per unit of production when the firm produces 90 lanterns? Variable Cost Total Cost Quantity of lanterns Fixed Cost (Dollars) (Dollars) (Dollars) Average Total Cost (Dollars) 75 200 170 370 4.93 80 200 230 430 5.36 90 200 7.67 100 200 810 115 200 11.8 117 200 1264 1464 12.5 120 200 1480