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accoriding to figure 8-1, what is the firms approximate total cost when it produces three units?

$30 МС ATC 20 Price AVC 10 8 2 4 6 Quantity According to Figure 8-1, what is the firms approximate total cost when it produc
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Answer #1

c. 48 --- is correct

ATC at Q = 3 is 16

Total cost = ATC *Q = 16*3 = 48

Total cost in the graph to produce 3 units is 48

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