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6 Oct 2020
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
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 |
Divya SinghLv10
5 Apr 2021