The table gives the short-run production data for a manufacturing firm. Compute average cost and marginal cost for the output levels shown in the table.
$\begin{array} { | c | c | c | c | c | }
\hline \text { Quantity } & \begin{array} { c }
\text { Fixed } \
\text { cost }
\end{array} & \begin{array} { c }
\text { Variable } \
\text { cost }
\end{array} & \begin{array} { c }
\text { Average } \
\text { cost }
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { cost }
\end{array} \
\hline 0 & 15 & - & & \
\hline 1 & & 6 & & \
\hline 2 & & 11 & & \
\hline 3 & & 15 & & \
\hline 4 & & 18 & & \
\hline 5 & & 22 & & \
\hline 6 & & 27 & & \
\hline 7 & & 33 & & \
\hline 8 & & 40 & & \
\hline
\end{array}$

Question

The table gives the short-run production data for a manufacturing firm. Compute average cost and marginal cost for the output levels shown in the table.
 $\begin{array} { | c | c | c | c | c | } 
\hline \text { Quantity } & \begin{array} { c } 
\text { Fixed } \
\text { cost }
\end{array} & \begin{array} { c } 
\text { Variable } \
\text { cost }
\end{array} & \begin{array} { c } 
\text { Average } \
\text { cost }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { cost }
\end{array} \
\hline 0 & 15 & - & & \
\hline 1 & & 6 & & \
\hline 2 & & 11 & & \
\hline 3 & & 15 & & \
\hline 4 & & 18 & & \
\hline 5 & & 22 & & \
\hline 6 & & 27 & & \
\hline 7 & & 33 & & \
\hline 8 & & 40 & & \
\hline
\end{array}$

Quizplus · Accepted Answer

The Answer of The table gives the short-run production data for a manufacturing firm. Compute average cost and marginal cost for the output levels shown in the table.
 $\begin{array} { | c | c | c | c | c | } 
\hline \text { Quantity } & \begin{array} { c } 
\text { Fixed } \
\text { cost }
\end{array} & \begin{array} { c } 
\text { Variable } \
\text { cost }
\end{array} & \begin{array} { c } 
\text { Average } \
\text { cost }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { cost }
\end{array} \
\hline 0 & 15 & - & & \
\hline 1 & & 6 & & \
\hline 2 & & 11 & & \
\hline 3 & & 15 & & \
\hline 4 & & 18 & & \
\hline 5 & & 22 & & \
\hline 6 & & 27 & & \
\hline 7 & & 33 & & \
\hline 8 & & 40 & & \
\hline
\end{array}$

The Table Gives the Short-Run Production Data for a Manufacturing