Question

8 9 10 11 The table below provides some information on various cost measures of a business. Use the available information to
os The table below provides some information on various cost measures of a business. Use th missing numbers: Q FC VC TC мс AF
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Answer #1
Q FC VC TC MC AFC AVC ATC
0 30 0 30 - - - -
10 30 3
20 30 100 130 1.5 5 6.5
30 30 180 210 8 1 6 7
40 30 0.75
50 30 420 450 0.6 8.4 9

Using the formulas:

FC = FC(Q=0)

TC = VC + FC

MC = dTC/dQ = dTVC/dQ

AFC = FC/Q

AVC = VC/Q; and

ATC = TC/Q

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