+1-415-670-9189
info@expertsmind.com
Problem - total cost, average cost, marginal cost
Course:- Microeconomics
Reference No.:- EM1327




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Microeconomics

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?

(c)        How much is average fixed cost at:

            (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?




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Microeconomics) Materials
What is a random sample? Give one example of economic question that you would like to investigate. Then answer the question what kind of data would you need to help you to a
Suppose seven identical items are auctioned one by one. What complication does this present for bidders? Which items, the first or the last, would you expect to sell for the
A hospital would replace five personnel that currently cover three shifts per day. 365 days per year. Each person earns $35,000 per year. Company-paid benefits and overhead ar
New companies entering the market, mergers, and globalization, on pricing and the sustainability of profits: Identify the type of merger activity inyour industry or one with
Select three goods or services that would have important differences in demand and price elasticities of demand for Christians as compared to non-Christians and describe why t
1. Why does borrowing constitute negative saving 2. Given that a negative flow of annual national saving implies that residents of the United States are net borrow
So I am wondering if any of you over achievers have any advice for me. Specifically I am wondering - what else can I be doing to make my resume' more attractive?
Do you believe in the idea that governments should run surpluses in good years only to spend their way out of a recession in bad years Why do we often see government revenue