I you do produce that fth widget find average total cost

Assignment Help Microeconomics

Reference no: EM13390548

You produce widgets. Currently you produce 4 widgets at a total cost of $40.

(a) What is your average total cost?

(b) Suppose you could produce one more (the ?fth) widget at a marginal cost of $5. If you do produce that ?fth widget, what will your average total cost be? Has your average total cost increased or decreased? Why?

(c) Suppose instead that you could produce one more (the ?fth) widget at a marginal cost of $20. If you do produce that ?fth widget, what will your average total cost be? Has your average total cost increased or decreased, relative to part (a)? Why?

Reference no: EM13390548

Questions Cloud

Construct an implementation strategy for your hypothetical : revise your executive summary from assignment 1 based on the outcomes and implementation of your marketing

The river rock company sells 200 lb decorative rocks for : the river rock company sells 200 lb decorative rocks for landscaping use. the current bagging process yields samples

Why do you think project management skills are lacking in : in 2010 the space shuttle program will be discontinued and thousands of nasa engineers and scientists will be affected.

What decision criteria should managers use in selecting : 1.what decision criteria should managers use in selecting projects when there is not enough capital to invest in all

I you do produce that fth widget find average total cost : you produce widgets. currently you produce 4 widgets at a total cost of 40.a what is your average total cost?b suppose

Laboing produces springs that are categorized as either : laboing produces springs which are categorized as either acceptable or defective during a period in which the

Determine the limitations of internal control system give : you are an accountant at a local cpa firm that is auditing the accounting records of abc company. you have been asked

Find the minimum efficient scale for firm run by average : consider an industry in which chief executive officers ceos run firms. there are two types of ceos exceptional and

Use the data above to compute x and r and make the : anderset labs produces rough lenses that will ultimately be rounded into precision lenses for use in lab equipment. the

User Account

All Pages