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From the following information about a f...

From the following information about a firm, find out:
(i) AFC of producing 3 units.
(ii) AVC of producing 4 units.
(iii) The least average cost (AC) level of output.
(iv) MC of producing 5th units.
(v) TVC of producing 6 units.

Text Solution

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(i) AFC of 3 units = 50 ltbgt (ii) AVC of 4 units = 160
(iii) Least AC = 197.5 at 4 units of output
(iv) MC of 5th units = 210
(v) TVC of 6 units = 1110
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