Table 6-E
$\begin{array}{lrrrrrrr}
\text { Quantity of Bicycles } & 0 & 1 & 2 & 3 & 4 & 5&6 \
\text { (in thousands) } \
\text { Total Cost of Production } & \$ 5 & \$ 8 & \$ 12 & \$ 16.5 & \$ 20 & \$ 27.5 & \$ 36\
\text { (in thousands) }
\end{array}$
-Refer to Table 6-E.At what level of output (in thousands) is average total cost minimized?

Question

Table 6-E
 $\begin{array}{lrrrrrrr}
\text { Quantity of Bicycles } & 0 & 1 & 2 & 3 & 4 & 5&6 \
\text { (in thousands) } \
\text { Total Cost of Production } & \$ 5 & \$ 8 & \$ 12 & \$ 16.5 & \$ 20 & \$ 27.5 & \$ 36\
\text { (in thousands) } 
\end{array}$ 
-Refer to Table 6-E.At what level of output (in thousands) is average total cost minimized?

Quizplus · Accepted Answer

The Answer of Table 6-E
 $\begin{array}{lrrrrrrr}
\text { Quantity of Bicycles } & 0 & 1 & 2 & 3 & 4 & 5&6 \
\text { (in thousands) } \
\text { Total Cost of Production } & \$ 5 & \$ 8 & \$ 12 & \$ 16.5 & \$ 20 & \$ 27.5 & \$ 36\
\text { (in thousands) } 
\end{array}$ 
-Refer to Table 6-E.At what level of output (in thousands) is average total cost minimized?

Table 6-E -Refer to Table 6-E