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Complete the table below before attempting the next question
Complete the table below before attempting the next question.
Output ????????
0 $2000
100 $2300
200 $2,450
300 $2,700
400 $3,200
t which unit of output (among those in the table) is average total cost minimized, and what is its (minimum) value at that unit?
Select one:
a. Minimum occurs at 100 units, where ????????????= $12
b. Minimum occurs at 400 units, where ????????????= $8
c. Minimum occurs at 200 units, where ????????????= $9.25
d. Minimum occurs at 300 units, where ???????????? = $6.50
Expert Solution
So, the correct option is B "Minimum occurs at 400 units, where ????????????= $8".
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