If the average cost of producing 9 sweaters is $6. 50 and the marginal cost of producing the tenth sweater is $6. 25, the average cost of producing 10 sweaters will:____.

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03-08-2022
Business

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If the average cost of producing 9 sweaters is $6. 50 and the marginal cost of producing the tenth sweater is $6. 25, the average cost of producing 10 sweaters will:____.

Sagot :

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smecloudbird18 smecloudbird18 · Answer 1 · 2022-08-14T12:19:00-04:00

If marginal cost is less than average cost, average cost will decrease and therefore be less than $6.50. In this case, average cost of producing 10 sweaters is ($6.50 x 9 + $6.25)/10 = $6.48. Average cost comprises fixed costs, such as production costs that are constant regardless of output.

The equipment and building space required to assemble a product are two examples of fixed costs. The average cost includes variable costs. All costs that change with that amount of production are included in the marginal cost of production. For instance, if a business needs to construct a brand-new facility.

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If the average cost of producing 9 sweaters is $6. 50 and the marginal cost of producing the tenth sweater is $6. 25, the average cost of producing 10 sweaters will:____.

Sagot :

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