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




Assignment Help
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
Prince Sports wants to exploit a favorable trend-the dramatic growth in tennis participation. For example, a recent study by the Sporting Good Manufacturers Association note
The Consumer Price Index is a valuable tool for measuring inflation over time. The CPI is measured using urban consumers who spend their money on a "market basket of goods" th
A company in its first year of operation expects the following financial results from a project. Compute the break-even point in units sold if the company expects to produce a
What is the profit-maximizing level of output and price for the monopolist? Now suppose that this rm is in a perfectly competitive industry, still facing the same marginal cos
1. A student has a budget of $200 for their meals outside of the home per week. One possibility is purchasing a meal at a restaurant, which  we will call x1, and which costs $
What is the competitive equilibrium price per ride and what is the equilibrium number of rides per day? How many boats will there be in equilibrium? In this competitive market
An evaluating projects, Lead Tech’s engineers use a rate of 15%. One year ago a robotic-transfer machine was installed at a cost of $38,000. At the time, a 10-year life was es
What substitute products are relevant to your analysis? What, if any, substitutes have come into or gone out of, the relevant market? When? Explain the impact. Be specific.