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bluefox996Lv1
28 Sep 2019
Based on your knowledge of the definition of the various measures of short-run cost, complete this table:
Q
TC
TFC
TVC
AC
AFC
AVC
MC
0
100
100
0
x
x
x
x
1
275
275
2
265
3
160
4
85
5
525
6
120
7
95
8
770
9
95
10
125
Based on your knowledge of the definition of the various measures of short-run cost, complete this table:
|
Q |
TC |
TFC |
TVC |
AC |
AFC |
AVC |
MC |
|
0 |
100 |
100 |
0 |
x |
x |
x |
x |
|
1 |
275 |
275 |
|||||
|
2 |
265 |
||||||
|
3 |
160 |
||||||
|
4 |
85 |
||||||
|
5 |
525 |
||||||
|
6 |
120 |
||||||
|
7 |
95 |
||||||
|
8 |
770 |
||||||
|
9 |
95 |
||||||
|
10 |
125 |
Romarie Khazandra MarijuanLv10
28 Sep 2019
Related textbook solutions
Related questions
Construct the total cost schedule using data below for a firm operating in the short-run.
| Total Output (Q) | Total fixed cost (TFC) | Total variable cost (TVC) | Total cost (TC) | Marginal Cost (MC) | Average fixed cost (AFC) | Average variable cost (AVC) | Average total cost (ATC) |
| 0 | 50 | 0 | 50 | ||||
| 1 | 70 | ||||||
| 2 | 85 | ||||||
| 3 | 95 | ||||||
| 4 | 100 | ||||||
| 5 | 110 | ||||||
| 6 | 130 | ||||||
| 7 | 165 | ||||||
| 8 | 215 | ||||||
| 9 | 275 |
Construct the cost schedule using the data below for a firm operating in the short run.
| Total Output (Q) | Total Fixed Cost (TFC) | Total Variable cost (TVC) | Total Cost (TC) | Marginal Cost (MC) | Average Fixed cost (AFC) | Average Variable Cost (AVC) | Average Total Cost (ATC) |
| 0 | $50 | ||||||
| 1 | $70 | ||||||
| 2 | $85 | ||||||
| 3 | $95 | ||||||
| 4 | $100 | ||||||
| 5 | $110 | ||||||
| 6 | $130 | ||||||
| 7 | $165 | ||||||
| 8 | $215 | ||||||
| 9 | $275 |
a. Construct the cost schedule using the data below for a firm operating in the short run.
b. Graph the average variable cost, average total cost, and marginal cost curves.
| Total Output (Q) | Total Fixed Cost (TFC) | Total Variable cost (TVC) | Total Cost (TC) | Marginal Cost (MC) | Average Fixed cost (AFC) | Average Variable Cost (AVC) | Average Total Cost (ATC) |
| 0 | $50 | ||||||
| 1 | $70 | ||||||
| 2 | $85 | ||||||
| 3 | $95 | ||||||
| 4 | $100 | ||||||
| 5 | $110 | ||||||
| 6 | $130 | ||||||
| 7 | $165 | ||||||
| 8 | $215 | ||||||
| 9 | $275 |
