Question: Table 13-14 Quantity of Fixed Output Cost 1 Average Fixed Cost Total Cost $33 Average Variable Cost Average Total Cost Variable Cost $23 $38 Marginal

Table 13-14 Quantity of Fixed Output Cost 1

Table 13-14 Quantity of Fixed Output Cost 1 Average Fixed Cost Total Cost $33 Average Variable Cost Average Total Cost Variable Cost $23 $38 Marginal Cost 2 3 $70 4 $64 $110 5 6 7 $118 $143 8 $185 7. Refer to Table 13-14. What is the fixed cost of production for this firm? a. $10 b. $20 c. $23 d. $33 8. Refer to Table 13-14. What is the variable cost of producing 5 units of output? a. $10 b. $20 c. $100 d. $110

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