What is the value of M? a. $560 b.$510 c. $440 d.$170 Bob's bulldozers cost table...

Question:

What is the value of M?

a. $560 b.$510

c. $440 d.$170

Bob's bulldozers cost table

 Quantity Total cost Fixed cost Variable cost Marginal cost Average fixed cost Average variable cost Average total cost 0 $50$50 $0 - - - - 1$150 A B C D E F 2 G H I $130 J K L 3 M N O P Q$170 R

Variable cost

Variable cost is the actual cost of production changing with either increasing or decreasing production. The variable cost is considered for short-run competitive market pricing. The minimization of variable cost makes production giving good returns.

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a. $560 For the value of M, we need: Average variable cost (AVC) for output 3 I$170. Total variable cost (TVC) is:

{eq}\begin{align*} TVC &=...