+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
Normal 0 false false false EN-US X-NONE X-NONE
Among the tax proposals regularly considered by Congress is an additional tax on distilled liquors. The tax would not apply to beer. The price elasticity of supply of liquor i
Would another topping on a pizza always increase the utility derived from eating it? Consider Maria's total util- ity curve for pizza toppings as shown in the table. Find th
Suppose that the consumer spending initially rises by $5 billion for the very 1 percent rise in household wealth and the investment sending usually rises by $20 billion for ev
Describe how a change in the exchange rate affected your firm. Explain what happened to your price and quantity. How can you profit from future shifts in the exchange rate?
Describe in words how a corner solution to the consumer's utility maximization problem differs from a conventional solution. Illustrate this description with an appropriate
Assume that the Keynesian short run aggregate supply curve is applicable to a country's economy. Construct appropriate diagrams to assist in answering the following questions:
The president of your corporation, Mr. daily, has asked you to make a report describing the many forms of market structure. He describe to you that the report will be handed o