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Economics Homework Six Answers - Student Ten (view source)
Revision as of 14:48, October 22, 2009
, 14:48, October 22, 2009no edit summary
'''6. Suppose you spent one million dollars to build your factory, and another million dollars for materials and labor and electricity to make 50 cars. What is your fixed cost, average variable cost, and average total cost? Now suppose it costs you $18,000 to make a 51st car. What is your marginal cost?'''
'''6. Suppose you spent one million dollars to build your factory, and another million dollars for materials and labor and electricity to make 50 cars. What is your fixed cost, average variable cost, and average total cost? Now suppose it costs you $18,000 to make a 51st car. What is your marginal cost?'''
FC-1,000,000 VC-1,000,000 AVC-20,000/per unit ATC-40,000/per unit MC-18,000
FC-$1,000,000 VC-$1,000,000 AVC-$20,000/per unit ATC-$40,000/per unit MC-$18,000