Solution-Problem - total cost, average cost, marginal cost

Problem - total cost, average cost, marginal cost

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Reference no: EM1327

Question: (a) Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)

Output (Units)	TC ($)	AC ($)	MC ($)
0	55	-
			30
1	85	85
			25
2	110	55
			20
3	130	43.3333333
			30
4	160	40
			50
5	210	42
			70
6	280	46.6666667
			90
7	370	52.8571429
			110
8	480	60
			130
9	610
			150
10	760	76

(b) How much is total fixed cost at:

(i) an output of 0 units ?

(ii) an output of 6 units?

(i) an output of 5 units?

(ii) an output of 10 units?

(d) How much is total variable cost at an output of 5 units?

(e) How much is average variable cost at an output of 10 units?

Reference no: EM1327

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Problem - total cost, average cost, marginal cost

Reference no: EM1327

Reference no: EM1327

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