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ECON-3030-A1/A2/B1/B2-Managerial Economics-Winter-2025

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Why is average total cost very high when a small amount of output is produced?
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What does a total-cost curve show?
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Which of the following must necessarily occur as the quantity of output increases?
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The MC curve shifts upward if
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In the above figure, the Average Total Cost of producing 13 units of output is $ .

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Suppose a firm is producing 80

units of output,

incurring a total cost of

$35,000 and total variable cost of $9,000.

It can be

concluded that average fixed cost is

$ .

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If the total product of three workers is 316 units and the total product of four workers is 331 

units, then the marginal

product of the fourth worker is 

.

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If an increase in output from 16 to 20 teapots increases total cost from $1,200 to $1,500, the marginal cost of one of those 4 teapots is $  .

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A firm's total fixed cost is $190

. If total cost

is

$290 for one unit of output and $370

for two units, what is the marginal

cost of the second unit?

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At Bert’s Bootery, the total cost of producing 18 pairs of boots is $180

.

The marginal cost of producing the 19th pair of boots is $17

.

The average total cost of 19 pairs of boots is $ .
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