The Table Gives the Short-Run Production Data for a Manufacturing

question 10

Essay

The table gives the short-run production data for a manufacturing firm. Compute average cost and marginal cost for the output levels shown in the table.
$\begin{array} { | c | c | c | c | c | } \hline \text { Quantity } & \begin{array} { c } \text { Fixed } \\\text { cost }\end{array} & \begin{array} { c } \text { Variable } \\\text { cost }\end{array} & \begin{array} { c } \text { Average } \\\text { cost }\end{array} & \begin{array} { c } \text { Marginal } \\\text { cost }\end{array} \\\hline 0 & 15 & - & & \\\hline 1 & & 6 & & \\\hline 2 & & 11 & & \\\hline 3 & & 15 & & \\\hline 4 & & 18 & & \\\hline 5 & & 22 & & \\\hline 6 & & 27 & & \\\hline 7 & & 33 & & \\\hline 8 & & 40 & & \\\hline\end{array}$

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