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Economics

Suppose 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
Variable costs $10 $20 $40 $80 $160 $320 $640

Calculate average fixed cost, average variable cost, and average total cost for each quantity? What is the efficient scale for the painting company?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9305347

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