Calculate average variable cost and average cost

Reference no: EM131824635

Question: Use the variable cost information in the following table to calculate average variable cost and average cost (assume fixed cost is $350), and then use this data to answer the questions that follow. One of them might not have an answer.

a. Give an example of a price at which this firm would want to produce and sell output in both the short run and the long run.

b. Give an example of a price at which this firm would want to produce and sell output in neither the short run nor the long run.

c. Give an example of a price at which this firm would want to produce and sell output in the long run but not in the short run.

d. Give an example of a price at which this firm would want to produce and sell output in the short run but not in the long run.

Reference no: EM131824635

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