9. Working with Numbers and Graphs Q9 If total variable cost is $120 and average variable cost is $10, quantity of output equals units. Now, consider the following data: Quantity of Output Total Cost (Units) (Dollars) 3 60 4. 75 The marginal cost of producing the fourth unit is s If total variable cost is $18 when quantity of output equals three units, then average fixed cost is s at this quantity. Which of the following must continuously decrease as quantity of output increases? O Marginal cost O Average variable cost O Average fixed cost

9. Working with Numbers and Graphs Q9 If total variable cost is $120 and average variable cost is $10, quantity of output equals units. Now, consider the following data: Quantity of Output Total Cost (Units) (Dollars) 3 60 4. 75 The marginal cost of producing the fourth unit is s If total variable cost is $18 when quantity of output equals three units, then average fixed cost is s at this quantity. Which of the following must continuously decrease as quantity of output increases? O Marginal cost O Average variable cost O Average fixed cost

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 5CQQ

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