CAS EC 101 Lecture 1: (WHOLE NOTEBOOK FOR ENTIRE CLASS)
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7 Feb 2019
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Refer to the data.
Total Output |
Average Fixed Cost |
Average Variable Cost |
Average Total Cost |
Marginal Cost |
1 |
150 |
25 |
175 |
25 |
2 |
75 |
23 |
98 |
21 |
3 |
50 |
20 |
70 |
14 |
4 |
37.50 |
21 |
58.50 |
24 |
5 |
30 |
23 |
53 |
31 |
6 |
25 |
25 |
50 |
35 |
7 |
21.43 |
28 |
49.43 |
46.01 |
8 |
18.75 |
33 |
51.76 |
68.07 |
9 |
16.67 |
39 |
55.67 |
86.95 |
10 |
15.00 |
48 |
63.00 |
128.97 |
The marginal cost column reflects:
A. the law of diminishing returns.
B. the law of diminishing marginal utility.
C. diseconomies of scale.
D. economies of scale.