# Variable Fixed Output Marginal Total Total Marginal costInput Input units Physical Product of fixed variable costVariable input cost (dollars) (dollars)$0

3 answers

###### Question:

Variable Fixed Output Marginal Total Total Marginal cost Input Input units Physical Product of fixed variable cost

Variable input cost (dollars) (dollars)

$0 1 0 $500 0

1 1 10 (A) $500 $200 E

2 1 25 (B) $500 400 (G)

3 1 45 (C) $500 600 (H)

4 1 60 (D) $500 800 (I)

5 1 70 (E) $500 1000 (J)

What is the average total cost of producing 60 units of output?

a. $24.17

b. $21.67

c. $12.50

d. $1.33

Variable input cost (dollars) (dollars)

$0 1 0 $500 0

1 1 10 (A) $500 $200 E

2 1 25 (B) $500 400 (G)

3 1 45 (C) $500 600 (H)

4 1 60 (D) $500 800 (I)

5 1 70 (E) $500 1000 (J)

What is the average total cost of producing 60 units of output?

a. $24.17

b. $21.67

c. $12.50

d. $1.33

## Answers

$21.67

Explanation:

Exhibit 21-3 is attached with the answer .Please find it.

Total cost of production includes the fixed cost and variable cost. Fixed Cost remains constant as $500 in the exhibit, but the variable cost changes with each production level.

Cost of producing 60 units

Variable cost = $800

Fixed cost = $500

Total cost = $800+500 = $1,300

Product cost per unit = Total cost / numbers of unit = $1,300 / 60 = $21.67

[tex]Variable Input Fixed Input Output Marginal Physical Product of Variable Input Total Fixed Cost Total[/tex]

answer; comparing the additional benefits and costs;

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