ECON 1100 Lecture Notes - Lecture 15: Military Cross, Average Variable Cost
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4 Sep 2019
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L+K = Q
labor + capital = Output
1 unit of labor = 50
perice per 1 unit = 20
Capital (K) is FIXED
L | K | Q | TVC | TFC | TC | ATC | AVC | AFC | MC |
0 | 20 | 0 | 0 | ||||||
1 | 20 | 18 | |||||||
2 | 20 | 60 | |||||||
3 | 20 | 100 | |||||||
4 | 20 | 3 |
Please explain some of thse out. I want to understand how to solve for these empty boxes.
Thank you!!!