Costs Answer
Business economics

Costs Answer

EconomicsOnline • • 1 min read

Production costs
Answer.

OUTPUT PRICE (£000) FIXED COST  VARIABLE COST TOTAL COST AVERAGE COST MARGINAL COST
0 100 100 0 100
1 90 100 30 130 130 30
2 80 100 58 158 79 28
3 70 100 83 183 61 25
4 60 100 108 208 52 25
5 50 100 153 253 50.6 45
6 40 100 208 308 51.3 55
7 30 100 268 368 52.6 60
8 20 100 368 468 58.5 100
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