ECO:152

Ron A. Mozelewski

Principles of Microeconomics
Homework Assignment 2

Instructions: First, view the following video: http://www.youtube.com/watch?

v=b8oXFwol3sA&feature=BFa&list=SP22785443C5FB0F83 .
Then, for 25 points, use the data below to answer the following questions. Show all of your work! Failure to show your work will
result in zero credit for the assignment. E-mail your answers directly to me at rmozelewski@stlcc.edu by Wednesday, June 11,
2014. Answers e-mailed after the June 11 deadline will receive zero credit. No excuses will be accepted.

Output
0
1
2
3
4
5
6
1.
2.
3.
4.
5.

Total
Cost
$ 50
120
170
200
275
360
450

The firms total fixed cost of producing the 4th unit of output is: $50
The firms total variable cost of producing 5 units of output is: $310
The firms average total cost of producing 3 units of output is:$66.67
The firms average fixed cost of producing 2 units of output is:$25
The firms marginal cost of producing the 6th unit of output is: $90