Variable Quantity Total Cost Cost 0 0 30 1 12 42 2 25 55 3 42 72 Given the information in the chart, what is the ATC of producing Q = 3? $14 $72 Can't determine without the fixed cost. $24
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Step 1: ATC is calculated by dividing the total cost by the quantity produced. Show more…
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Based on the graph below, the total cost at 3000 units of output is: A graph showing three U-shaped cost curves: MC, AVC, and ATC. MC is at the minimum of $1.50 when the output is 3000 units. AVC is at the minimum of $4 when the output is 5500 units. ATC is at the minimum of $5.50 when the output is 6000 units. Alternate Text: A graph showing three U-shaped cost curves: MC, AVC, and ATC. MC is at the minimum of $1.50 when the output is 3000 units. AVC is at the minimum of $4 when the output is 5500 units. ATC is at the minimum of $5.50 when the output is 6000 units. $24,000 $3 $15,000 $8
Crystal W.
In the graph below, the average fixed cost at 3000 units of output is: A graph showing three U-shaped cost curves: MC, AVC, and ATC. MC is at the minimum of $1.50 when the output is 3000 units. AVC is at the minimum of $4 when the output is 5500 units. ATC is at the minimum of $5.50 when the output is 6000 units. Alternate Text: A graph showing three U-shaped cost curves: MC, AVC, and ATC. MC is at the minimum of $1.50 when the output is 3000 units. AVC is at the minimum of $4 when the output is 5500 units. ATC is at the minimum of $5.50 when the output is 6000 units. $9,000 $1.5 $8 $5 $3
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