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Business, 16.04.2020 22:51 Chloeangelxoxo

Suppose you have a production technology that can be characterized by a learning curve. Every time you increase production by one unit, your marginal cost decreases by $8. There are no fixed costs, and the first unit costs you $64 to produce. Use the given information to fill in the marginal cost of each unit, as well as the total cost and average cost of each level of output. Quantity Marginal Cost Total Cost Average Cost (Units) ($) ($) ($/unit) 1 $64 $64 $64 2 $ $ $ 3 $ $ $ 4 $ $ $ 5 $ $ $ 6 $ $ $

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