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##### Complete the following table. What is the value of fixed cost?

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Problem 5;Complete the following table. What is the value of fixed cost?;rate of output total cost marginal cost average total cost;0 \$100;1 110;2 130;3 165;4 220;5 300;Problem 6;On a graph, depict marginal cost and average total cost using the data from problem 5. Indicate minimum average total cost on the graph.;Problem 7;Suppose a company incurs the following costs;labor \$400;equipment \$300;materials \$100;It owns the building so it doesn't have to pay the \$800 in rent.;(a) what is the total accounting cost?;(b) what is the total economic cost?;(c) explain why these are different in this way.;Problem 8;Consider the marginal cost for a product like Microsoft Windows 7. How does the marginal cost for a product like this differ from a product like automobiles? What relevance might there be to this difference?

Paper#30702 | Written in 18-Jul-2015

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