11.
At any given level of output, variable costs =
Q x
AVC
. In this case output is 10 and
AVC = 15
at 10 units of output, so the firms variable costs are
10 x 15 = 150
. This is shown above as the
shaded area
to the right.
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11. At any given level of output, variable costs = Q x AVC. In this case output is 10 and AVC = 15 at 10 units of output, so the firms variable costs are 10 x 15 = 150. This is shown above as the shaded area to the right.
