Question

Connect Problem CP 9-5 (algo) Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. Hint Determine the total fixed cost first. Instructions: Round your answers to 2 decimal places Average Fixed Total Variable Average Total Cost Output Marginal Cost Total Cost Cost Cost 0.00 10.00 $10 9.65 $18.62 9.65 $8.97 $19.65 $28.62 36.9 $44.53 19.65 3.33 $2.5 $2 $14.31 $12.3 $11.13 $10.3 4 $34.53 S7.63 5 $41.5

Answer 1

Average fixed cost = Fixed cost / Output

Fixed cost = $10

Average variable cost = Variable cost / Output

Total cost = Variable cost + Fixed cost

Average Total cost = Total cost / Out put

Marginal cost = (Change in total cost)/ Change in output

Output	Fixed cost	Variable cost	Total cost	Average fixed cost	Average variable cost	Average total cost	Marginal cost
0	10	0	10	-	-	-	-
1	10	9.65	19.65	10	9.65	19.65	9.65
2	10	18.62	28.62	5	9.31	14.31	8.97
3	10	26.9	36.9	3.33	8.97	12.3	8.28
4	10	34.53	44.53	2.5	8.83	11.13	7.63
5	10	41.5	51.5	2	8.3	10.3	6.97

Total fixed cost = Avrg fixed cost X output

Total fixed cost = 10*1 = 10