QUESTION 15Use the following table and use your previous calculations at what quantity of output doesmarginal cost = average variable cost and marginal cost = average total cost Total OutputTotal CostTFCTVCAFCAVCATCMC0$20 10$40 20$60 30$90 40$120 50$180 60$280 a.MC = ATC between 20/40 of output MC = AVC between 10/30 of output b.MC = ATC at 40 of output MC = AVC at 20 of output c.MC = ATC at 30 of output MC = AVC at 10 of output d.MC = ATC between 10/20 of output MC = AVC between 30/40 of output e.MC = ATC between 30/40 of output MC = AVC between 10/20 of output

Total cost is the sum of total fixed cost and total variable cost. Marginal cost is the addition to…

Answered: Use the following table and use your…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 3CQQ

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QUESTION 15

Use the following table and use your previous calculations at what quantity of output does

marginal cost = average variable cost and marginal cost = average total cost

Total Output	Total Cost	TFC	TVC	AFC	AVC	ATC	MC
0	$20
10	$40
20	$60
30	$90
40	$120
50	$180
60	$280

	a.	MC = ATC between 20/40 of output MC = AVC between 10/30 of output
	b.	MC = ATC at 40 of output MC = AVC at 20 of output
	c.	MC = ATC at 30 of output MC = AVC at 10 of output
	d.	MC = ATC between 10/20 of output MC = AVC between 30/40 of output
	e.	MC = ATC between 30/40 of output MC = AVC between 10/20 of output

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