Question

2pts D Question 33 Average Variable Cost $20.47 $21.19 $22.06 $23.06 $24.21 Average Fixed Cost $30.00 $28.13 Total Cost Total Revenue $1,080 $1,120 $1,156 $1,188 $757 $789 $825 $865 $910 $26.47 $25.00 $23.68 $1,216 Based on the information in this table, what is Quantity when TR = $1,080? (Enter only the answer value, exclude Quantity , just enter the number.) Question 34 2 pts Average Variable Average Fixed Cost Total Revenue Total Cost Cost $1,080 $757 $20.47 $30.00 $1,120 $1.156 $1,188 $789 $21.19 $28.13 $825 $865 $22.06 $26.47 $23.06 $25.00 $1,216 S910 $24.21 $23.68 Based on the information in this table, what are Variable Costs when TR $I1,1S67 (Round to the nearest dollar. Enter only the answer value. exclude VCust enter the number)

Answer 1

Ans) Total revenue = Price × Quantity

Average Total Cost = AVC + AFC = Total cost ÷ quantity

Average Variable Cost = Variable cost ÷ Quantity

1) AVC + AFC = ATC

AVC+AFC = TC÷ Q

20.47 + 30 = 757÷Q

Q= 15

2) AVC+AFC= ATC

AVC+AFC=TC÷Q

22.06 + 26.47 = 825÷Q

Q= 17

VC = AVC×Q = 22.06×17 = $375

3) AVC+AFC= ATC

AVC+ AFC = TC÷ Q

23.06 + 25 = 865÷Q

Q= 18

TR = P×Q

1188 = P × 18

P= $66