Calculate average fixed cost average variable cost and, Ask an Expert

Economics

Your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for variable costs:

Quantity of houses painted per month:
1 2 3 4 5 6 7 8
Variable costs:
$10 $20 $40 $80 $160 $320 $640

find out average fixed cost, average variable cost, and average total cost for each quantity. What is the efficient scale of the painting company?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M967955

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