A firm produces five units of output at an average cost of $20 per unit. The cost of the sixth unit is$26.What is the average cost of six units?

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Solution 1

To calculate the average cost of six units, you need to follow these steps:

First, calculate the total cost of the first five units. Since each unit costs $20, you multiply 5 units *$ 20/unit = $100.
Then, add the cost of the sixth unit, which is $26. So,$ 100 + $26 =$ 126.
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Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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