Exhibit
The long-run total cost schedule of a perfectly competitive firm that produces walnuts is as follows:

-Refer to Exhibit. The average total cost of producing 6,000 pounds of walnuts in the long run is:?

Question

​Exhibit
The long-run total cost schedule of a perfectly competitive firm that produces walnuts is as follows:
​
 
-Refer to Exhibit. The average total cost of producing 6,000 pounds of walnuts in the long run is:?

Quizplus · Accepted Answer

The average total cost is calculated by dividing the total cost by the quantity produced. If the total cost for producing 6,000 pounds of walnuts is $15,000, then the average total cost is $15,000 / 6,000 = $2.50 per pound.

​Exhibit The Long-Run Total Cost Schedule of a Perfectly Competitive Firm

Exhibit The Long-Run Total Cost Schedule of a Perfectly Competitive Firm