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Your cousin Zenzo owns a painting company with fixed costs of P200 and the following schedule for variable costs:

QUANTITY OF HOUSES PAINTED PER MONTH
1 2 3 4 5 6 7
Variable costs P10 P20 P40 P80 P70 P65 P64

find out average fixed cost, average variable cost, and average total, marginal cost for each quantity. What is the efficient scale of the painting company if one house costs P300 to be painted? (Hint: find total revenue first then answer my problem)

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M947951

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