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Problem: Juke engineering produces batteries for a major car-maker . Juke's monthly cost structured is shown in the table below . Assume that the firm's average variable costs of production remain constant at all levels of output shown .
Output level ( batteries) Total Costs $
1000 50000
2000 80000
3000 110000
Question 1: Calculate the average variable costs of production for juke engineering.
Question 2: Calculate the value of its monthly total fixed costs.
Question 3: Calculate the change in average costs of production if juke engineering increases its production from 1000 batteries per month to 3000 batteries per month
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