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A OC 19 TA TO ATO Woody Roddamous FOCAD a DSSSR which cung chairs wchov The dyed you be sure your artwy w sms of urberg chalis produced fastidor Fiets for a total ATC telew to you yo Ince twins butas prato che con A Food Coul CATC 50 3000 2000 1500 12 74 25 2 UG 512.00 700 300 05 1 00 25 Achettone to the 13 10 0.00 75.00 30 110 in the AGO 10 00 Quiz: Chapter 8 Quiz Question 1 Woody Rockford quit his rock band in order to start up a small business called Rockers, which assembles wooden rocking chairs in a small warehouse The table displayed to your right describes various costs incurred by Rockers at different daily output Output is measured in terms of the number of rocking chairs produced (assembled) per day a Fill in the blanks for average total cost (ATC) for each output level displayed in the table to your night (Round your responses to two decimal places.) b. In general, at low levels of output, as the quantity level (daily production of chairs) increases, the average total cost will decrease c At higher levels of output, as production continues to increase the average total cost will increase d In general, the ATC curve is curvo Output Chairs (Q) Total Cost (TC) Average Total Cost (ATC) Average Variable Cost (AVC) $12.00 700 1 $72 Average Fixed Cost (AFC) $60.00 30.00 20.00 15 00 12.00 2 74 5.00 3 75 4 85 5 100 6.25 8.00 10.83 13.57 6 125 10.00 7 155 8.57 8 190 7.50 6.67 16 25 20.00 9 240 10 310 6.00 25 00 A OC 19 TA TO ATO Woody Roddamous FOCAD a DSSSR which cung chairs wchov The dyed you be sure your artwy w sms of urberg chalis produced fastidor Fiets for a total ATC telew to you yo Ince twins butas prato che con A Food Coul CATC 50 3000 2000 1500 12 74 25 2 UG 512.00 700 300 05 1 00 25 Achettone to the 13 10 0.00 75.00 30 110 in the AGO 10 00 Quiz: Chapter 8 Quiz Question 1 Woody Rockford quit his rock band in order to start up a small business called Rockers, which assembles wooden rocking chairs in a small warehouse The table displayed to your right describes various costs incurred by Rockers at different daily output Output is measured in terms of the number of rocking chairs produced (assembled) per day a Fill in the blanks for average total cost (ATC) for each output level displayed in the table to your night (Round your responses to two decimal places.) b. In general, at low levels of output, as the quantity level (daily production of chairs) increases, the average total cost will decrease c At higher levels of output, as production continues to increase the average total cost will increase d In general, the ATC curve is curvo Output Chairs (Q) Total Cost (TC) Average Total Cost (ATC) Average Variable Cost (AVC) $12.00 700 1 $72 Average Fixed Cost (AFC) $60.00 30.00 20.00 15 00 12.00 2 74 5.00 3 75 4 85 5 100 6.25 8.00 10.83 13.57 6 125 10.00 7 155 8.57 8 190 7.50 6.67 16 25 20.00 9 240 10 310 6.00 25 00

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