Calculate average fixed cost-average variable cost

Assignment Help Business Economics

Reference no: EM131164072

A. Consider the following data. Assume that the fixed cost of the 3rd unit of output is $9.00. Calculate average fixed cost, average variable cost, average total cost, marginal costs, total varibale cost and toal cost for each unit listed in the chart.

B. In two separate graphs, plot the TFC, TVC and TC in one graph, and the ATC, AVC and MC in the second graph.

c. Explain what marginal cost is doing to the average variable cost and to the average total cost, when the following occurs: the AVC is < MC, but the MC is < ATC.

Output 0 1 2 3 4 5 6

Total Cost 24 33 41 48 54 61 69

Reference no: EM131164072

Questions Cloud

Develop public policy to address the issue : Final Paper Focus of the Final Paper The Capstone Paper should demonstrate understanding of the reading as well as the implications of new knowledge. The ten to fifteen page paper should integrate readings, class discussions, field research, and lite..

Domestic climate policy : Discuss how policy makers can incorporate the Domestic Climate Policy Framework into a widely accepted environmental policy. Provide examples.

Developing a performance appraisal system : Develop a Performance Appraisal System - A large public utility has been having difficulty with its performance evaluation system.

Self-evident distribution of production : If the world had no borders, where would production happen? In the place where it could be done at lowest opportunity cost, benefiting us all? Why do the addition of artificial political borders change this self-evident distribution of production. Wh..

Calculate average fixed cost-average variable cost : Consider the following data. Assume that the fixed cost of the 3rd unit of output is $9.00. Calculate average fixed cost, average variable cost, average total cost, marginal costs, total varibale cost and toal cost for each unit listed in the chart.

What is opportunity cost of attending an economics class : What is the profit maximizing and loss minimizing solution for businesses not engaging in price discrimination? How would you expect an attractive and prestigious job to be compensated and what would an economist tell you? What does a competitive cap..

Write the response of the given discussions : I have both experienced knowing someone with a disorder and living with a disorder. Three years ago I was diagnosed with Manic Depression, now known as bipolar disorder. I would have days where I was going a mile a minute, talking quickly, and jum..

Key factor for the economic growth : In todays modern world oil is considered a key factor for the economic growth of a country in the view of declining oil prices over the last couple of months critically evaluate its impact on a capital market of an oil exporting country like UAE.

Prepare budgeted balance stitch corporation : Use the following information to prepare a budgeted balance stitch corporation at march 31 .Show computation for the cash and owners's equity ammounts. ______ + _______ - = equity ____ + ______ - = Prepare the assets section of the balance sheet , th..

User Account

All Pages