Given the following information about Mega Corp’s costs, provide answers to th
ID: 1188137 • Letter: G
Question
Given the following information about Mega Corp’s costs, provide answers to the questions below.
Quantity TC TFC TVC ATC AFC AVC MC
0 40
1 52
2 20
3 21.33
4 4
5 40
6 15.67
7 10
8 96
9 15
10 45
(a) Total fixed costs equal .
(b) When the rate of output is equal to 1, AVC is equal to .
(c) When the rate of output is equal to 2, MC is equal to .
(d) Average variable costs are minimized at a rate of output of .
(e) When the rate of output is 7, total costs are equal to .
(f) At a rate of output of , total variable costs are equal to 135.
(g) At a rate of output of marginal costs (MC) are equal to 14.
(h) Average total costs are minimized at a rate of output of .
Explanation / Answer
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