Use your knowledge of cost functions to calculate the missed cost data in the accompanying table. Round
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Question:
Use your knowledge of cost functions to calculate the missed cost data in the accompanying table.
Round your answers to two digits after the decimal.
Quantity | Marginal cost | Fixed cost | Variable cost | Total cost | Average fixed cost | Average variable cost | Average total cost |
---|---|---|---|---|---|---|---|
0 | --- | --- | --- | --- | |||
1 | $50.00 | ||||||
2 | $64.00 | ||||||
3 | $85.00 | ||||||
4 | $30.00 | $380.00 |
What is the total cost when producing zero units?
total cost: $
What is the marginal cost for the first unit?
marginal cost: $
What is the average total cost when producing three units?
average total cost: $
What is the average variable cost when producing four units?
average variable cost: $
Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
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