Table 13-15
$$\begin{array} { | l | l | l | l | l | }
\hline \text { Labor } & \text { Output } & \begin{array} { l }
\text { Marginal } \
\text { Product }
\end{array} & \begin{array} { l }
\text { Variable } \
\text { Cost }
\end{array} & \begin{array} { l }
\text { Fixed } \
\text { Cost }
\end{array} \
\hline 0 & 0 & - & \$ 0 & \$ 5 \
\hline 1 & 100 & 100 & \$ 5 & \$ 5 \
\hline 2 & 250 & & \$ 10 & \$ 5 \
\hline 3 & 350 & & \$ 15 & \$ 5 \
\hline 4 & & 50 & \$ 20 & \$ 5 \
\hline 5 & & 25 & \$ 25 & \$ 5 \
\hline 6 & 430 & & \$ 30 & \$ 5 \
\hline
\end{array}$$
-Refer to Table 13-15. What is the shape of the average-total-cost curve?

Question

Table 13-15
 $$\begin{array} { | l | l | l | l | l | } 
\hline \text { Labor } & \text { Output } & \begin{array} { l } 
\text { Marginal } \
\text { Product }
\end{array} & \begin{array} { l } 
\text { Variable } \
\text { Cost }
\end{array} & \begin{array} { l } 
\text { Fixed } \
\text { Cost }
\end{array} \
\hline 0 & 0 & - & \$ 0 & \$ 5 \
\hline 1 & 100 & 100 & \$ 5 & \$ 5 \
\hline 2 & 250 & & \$ 10 & \$ 5 \
\hline 3 & 350 & & \$ 15 & \$ 5 \
\hline 4 & & 50 & \$ 20 & \$ 5 \
\hline 5 & & 25 & \$ 25 & \$ 5 \
\hline 6 & 430 & & \$ 30 & \$ 5 \
\hline
\end{array}$$
-Refer to Table 13-15. What is the shape of the average-total-cost curve?

Quizplus · Accepted Answer

The Answer of Table 13-15
 $$\begin{array} { | l | l | l | l | l | } 
\hline \text { Labor } & \text { Output } & \begin{array} { l } 
\text { Marginal } \
\text { Product }
\end{array} & \begin{array} { l } 
\text { Variable } \
\text { Cost }
\end{array} & \begin{array} { l } 
\text { Fixed } \
\text { Cost }
\end{array} \
\hline 0 & 0 & - & \$ 0 & \$ 5 \
\hline 1 & 100 & 100 & \$ 5 & \$ 5 \
\hline 2 & 250 & & \$ 10 & \$ 5 \
\hline 3 & 350 & & \$ 15 & \$ 5 \
\hline 4 & & 50 & \$ 20 & \$ 5 \
\hline 5 & & 25 & \$ 25 & \$ 5 \
\hline 6 & 430 & & \$ 30 & \$ 5 \
\hline
\end{array}$$
-Refer to Table 13-15. What is the shape of the average-total-cost curve?

Table 13-15 -Refer to Table 13-15