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28 Sep 2019
Output TC
0 $ 800
1 1,000
2 1,250
3 1,550
4 2,000
5 2,500
how do you calculate AVC & AFC?
Output TC
0 $ 800
1 1,000
2 1,250
3 1,550
4 2,000
5 2,500
how do you calculate AVC & AFC?
Darryn D'SouzaLv10
30 Sep 2019
Related textbook solutions
Related questions
2. Complete the following cost table:
|
Q |
FC |
VC |
TC |
MC |
AFC |
AVC |
ATC |
|
0 |
Ā | Ā | Ā |
- |
- |
- |
- |
|
1 |
Ā | Ā | Ā |
10 |
Ā | Ā | Ā |
|
2 |
Ā |
18 |
Ā | Ā |
5 |
Ā | Ā |
|
3 |
Ā |
23 |
Ā | Ā | Ā | Ā | Ā |
|
4 |
Ā | Ā | Ā | Ā | Ā |
6.5 |
Ā |
where FC is fixed cost, VC is variable cost, TC is total cost, MC is marginal cost, AFC is average fixed cost, AVC is average variable cost, and ATC is average total cost.
Fill in this table for a perfectly competitive firm:
|
Output |
VC |
TC |
AVC |
AFC |
ATC |
MC |
P |
TR |
Profit |
|
0 |
Ā |
100 |
- |
- |
- |
- |
50 |
Ā | Ā |
|
1 |
25 |
Ā | Ā | Ā | Ā | Ā | Ā |
50 |
Ā |
|
2 |
Ā | Ā | Ā | Ā | Ā |
20 |
Ā | Ā | Ā |
|
3 |
Ā | Ā | Ā | Ā |
53.3 |
Ā | Ā | Ā | Ā |
|
4 |
Ā | Ā |
17.5 |
Ā | Ā | Ā | Ā | Ā | Ā |
|
5 |
90 |
Ā | Ā | Ā | Ā | Ā | Ā | Ā | Ā |
Hint: Fixed Costs:_________________________________
