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ECS1501-25-Y Topics 12 -15
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Use the data in the following table to answer the question.
Output (Units) | Total cost (R) |
0 | 100 |
1 | 110 |
2 | 130 |
3 | 166 |
4 | 220 |
5 | 300 |
The marginal cost of the fourth unit is
Use the data in the following table to answer the question.
Output (Units) | Total cost (R) |
0 | 100 |
1 | 110 |
2 | 130 |
3 | 166 |
4 | 220 |
5 | 300 |
The marginal cost of the fifth unit is
The law of diminishing marginal returns refers to the situation in which _______ eventually declines as more of the variable input is employed, given a certain amount of the fixed input.
Use the data in the following table to answer the question.
Output (Units) | Total cost (R) |
0 | 100 |
1 | 110 |
2 | 130 |
3 | 165 |
4 | 220 |
5 | 300 |
The average total cost of three units is
Use the data in the following table to answer the question.
Output (Units) | Total cost (R) |
0 | 100 |
1 | 110 |
2 | 130 |
3 | 166 |
4 | 220 |
5 | 300 |
The average total cost of one unit is