In: Economics
1.)
The table below represents the costs of producing jackets.
Quantity | Fixed Cost | Variable Cost | Total Cost | Average Fixed Cost | Average Variable Cost | Average Total Cost |
---|---|---|---|---|---|---|
12 | $118 | $25 | $143 | ? | ? | ? |
18 | $118 | $50 | $168 | ? | ? | ? |
26 | $118 | $75 | $193 | ? | ? | ? |
34 | $118 | $100 | $218 | ? | ? | ? |
42 | $118 | $125 | $243 | ? | ? | ? |
Find the average variable cost for producing 42 jackets. Round your answer to the nearest hundredth.
2.) The table below represents the costs of producing sneakers.
Quantity | Fixed Cost | Variable Cost | Total Cost | Average Fixed Cost | Average Variable Cost | Average Total Cost |
---|---|---|---|---|---|---|
12 | $118 | $25 | $143 | ? | ? | ? |
18 | $118 | $50 | $168 | ? | ? | ? |
26 | $118 | $75 | $193 | ? | ? | ? |
34 | $118 | $100 | $218 | ? | ? | ? |
42 | $118 | $125 | $243 | ? | ? | ? |
Find the average fixed cost for producing 34 sneakers. Round your answer to the nearest hundredth