Answer to Question #226483 in Economics for Njabulo Mhlanga

Question

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

output units total cost

0 100

1 110

2 130

3 166

4 220

5 300

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

The average total cost of the third unit is  

 

Answer 1

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