Consider the Following Cost Data -The Average Cost of Producing 3 Units of Output Is

question 12

Multiple Choice

Consider the following cost data:

$\begin{array} { | l | c | c | c | c | c | c | c | } \hline \text { Output } & 0 & 1 & 2 & 3 & 4 & 5 & 6 \\\hline \text { Total Cost (\$) } & 24 & 33 & 41 & 48 & 54 & 61 & 69 \\\hline\end{array}$
-The average cost of producing 3 units of output is:

• A)$14
• B)$12
• C)$13.67
• D)$16
• E)$48

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Definitions:

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