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As output (Q) varies, total fixed costs (TFC) and total variable costs (TVC) for a firm...

  1. As output (Q) varies, total fixed costs (TFC) and total variable costs (TVC) for a firm are given by the following:

Q

TFC

TVC

0

30

0

1

30

6.3

2

30

10.4

3

30

14.1

4

30

19.2

5

30

27.5

6

30

40.8

7

30

60.9

8

30

89.6

9

30

128.7

10

30

180

a) Compute total cost, average fixed cost, average variable cost, average total cost and marginal cost and report these in a table similar to the one shown above.

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Answer #1

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