The cost structure of a manufacturer of microchips is described in the following table. The firm’s fixed costs equal $10 per day.
The cost structure of a manufacturer of microchips is described in the following table. The firm’s fixed costs equal $10 per day. Calculate the average variable cost, average fixed cost, and average total cost at each output level.Output Total Cost of (microchips per day) Output ($ thousands)0 1025 6050 9575 150100 220125 325150 465
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