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Answer to Question #99288 in Economics for trushang
Question #99288
Calculate the following:
Quantity Cost
25
26
27
Total Fixed Cost
10
10
10
Total Variable Cost
18
20
21
Total Cost
?
?
?
Average Cost
?
?
?
Marginal Cost
?
?
?
Quantity Cost
25
26
27
Total Fixed Cost
10
10
10
Total Variable Cost
18
20
21
Total Cost
?
?
?
Average Cost
?
?
?
Marginal Cost
?
?
?
Expert's answer
Total cost: FC+VC, so 28; 30; 31
Average cost: TC/q, so 1.12; 1.15; 1.15
Marginal cost: (30-28)/(26-25)=2; 1
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