Question

Read, the following hypothetical Case Study, carefully and answer the question

numbers 24 - 27 on the base of the same.

The following information is given about a firm:

Output 0 1 2 3 4 5 6

Total Cost 150 300 420 600 790 1000 1260

24. What will be the average fixed cost of producing 3 units? 1

25. What is average variable cost of producing 4 units? 1

26. What is the least average cost level of output? 1

27. What is the marginal cost of producing the 5th unit? 1

28. Why two indifference curves can never intersect each other?​

Answer 1

for your answer refer to above given pic

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