Question

12 Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. Hint: Determine the total fixed cost first. 10 points Instructions: Round your answers to 2 decimal places. Output Average Fixed Total Variable Average Total Marginal Cost Total Cost Cost Cost Cost 0 - - - - - 1 $5 $9.82 $9.82 $14.82 2 $19.3 $12.15 $9.48 $24.3 3 $1.67 $11.15 $33.44 4 $1.25 $37.27 $10.57 $8.83 $42.27 5 $1 $45.8 $10.16

          12
Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. Hint:
Determine the total fixed cost first.
10
points
Instructions: Round your answers to 2 decimal places.
Output	Average Fixed	Total Variable	Average Total	Marginal Cost	Total Cost
Cost	Cost	Cost
0	-	-	-	-	-
1	$5	$9.82		$9.82	$14.82
2		$19.3	$12.15	$9.48	$24.3
3	$1.67		$11.15		$33.44
4	$1.25	$37.27	$10.57	$8.83	$42.27
5	$1	$45.8	$10.16

12
Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. Hint:
Determine the total fixed cost first.
10
points
Instructions: Round your answers to 2 decimal places.
Output Average Fixed Total Variable Average Total Marginal Cost Total Cost
Cost Cost Cost
0 - - - - -
1 59.82 9.8214.82
2 19.312.15 9.4824.3
3 1.6711.15 33.44
41.25 37.2710.57 8.8342.27
5 145.8 10.16

Added by Sean U.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Rajendra Kumar

Step 1

We can do this by subtracting the total variable cost from the average total cost at an output of 0. Total Fixed Cost = Average Total Cost - Total Variable Cost at output 0 Total Fixed Cost = $19.30 - $9.82 Total Fixed Cost = $9.48 Now, let's fill in the blanks Show more…

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Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. Hint: Determine the total fixed cost first. Output Average Fixed Cost Total Variable Cost Average Total Cost Marginal Cost Total Cost 0 $5 $9.82 $19.30 $9.82 1 $9.48 $14.82 $24.30 $33.44 2 $42.27 $12.15 $11.15 $10.57 3 $10.16 $1.67 $1.25 $1.00 4 $37.27 $45.80 $8.83