Answer to Question #244858 in Microeconomics for Buhle

Question

Use the following data in the following table to answer the question

Output units Total cost R
0 100
1 110
2 130
3 166
4 220
5 300

The average variable cost of the fifth unit is___________

Answer 1

The average total cost of the third unit is $ATC = TC/Q = 166/3 = 55.33$ units.