Calculate the firm total variable cost

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Reference no: EM1372155

A company cost curves are listed in the following table.

q TC TFC
0 100 100
1 130 100
2 150 100
3 160 100
4 172 100
5 185 100
6 210 100
7 240 100
8 280 100
9 330 100
10 390 100

a. Use M.S. Excel to calculate the firm's Total Variable Cost (TVC), Average Variable Cost (AVC), Average Total Cost (ATC), and Marginal Cost (MC).

b. Assume market price is $30. How much will the firm produce in the short run? How much are total profits?

c. Assume market price is $50. How much will the firm produce in the short run? What are total profits?

Reference no: EM1372155

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