Homework Answers
| Q | AFC | AVC | FC | VC | TC | MC |
| 1 | 50 | 100 | 50 | 100 | 150 | 100 |
| 2 | 25 | 80 | 50 | 160 | 210 | 60 |
| 3 | 16.67 | 66.67 | 50 | 200 | 250 | 40 |
| 4 | 12.5 | 65 | 50 | 260 | 310 | 60 |
| 5 | 10 | 68 | 50 | 340 | 390 | 80 |
| 6 | 8.37 | 73.33 | 50 | 440 | 490 | 100 |
| 7 | 7.14 | 80 | 50 | 560 | 610 | 120 |
| 8 | 6.25 | 87.5 | 50 | 700 | 750 | 140 |
FC = AFC x Q
VC = AVC x Q
TC = FC + VC
MC (nth unit) = TC (n units) - TC ((n-1) units)
MC (5th unit) = 80
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Answer the question on the basis of the following cost data: Average Average Fixed Variable OutputCost...
Answer the question on the basis of the following cost data. Output Average Fixed Cost Average...
Answer the question on the basis of the following cost data. Output Average Fixed Cost Average Variable Cost 1 $50.00 $100.00 2 25.00 80.00 3 16.67 66.67 4 12.50 65.00 5 10.00 68.00 6 8.37 73.33 7 7.14 80.00 8 6.25 87.50 Total fixed cost is Multiple Choice $6.25. $100.00. $150.00. $50.00.
Econ
Based on the following cost data, The marginal cost curve would intersect the average variable cost curve at about: Average AverageOutput fixed cost variable cost Q AFC AVC 1 $50.00 $100.00 2 25.00 80.00 3 16.67 66.67 4 12.50 65.00 5 10.00 68.00 6 8.37 ...
Ok, so I know how to answer the question but I also want to find the...
Ok, so I know how to answer the question but I also want to
find the MC through the TVC alone. I multiplied the AVC of 6 and 7
but I dont get the same MC of 112.78 using TVC way, for TVC i got
120.02. Is there a reason TVC is different from TC?
Question 11: Refer to the data. If the firm decided to increase its output from 6 to 7 units, what are its marginal costs and...
Total Product Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 1 $100.00 $17.00...
Total Product Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 1 $100.00 $17.00 $117.00 $17 2 50.00 16.00 66.00 15 3 33.33 15.00 48.33 13 4 25.00 14.25 39.25 12 5 20.00 14.00 34.00 13 6 16.67 14.00 30.67 14 7 14.29 15.71 30.00 26 8 12.50 17.50 30.00 30 9 11.11 19.44 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24.00 33.09 48 12 8.33 26.67 35.00 56 The accompanying table gives cost data for...
Calculate the missing values in the cost table for Ag Biz Corp given below. Cost Table...
Calculate the missing values in the cost table for Ag Biz Corp
given below.
Cost Table for AgBiz Corp. Total Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost Product $0 $50.00 1 $50.00 $88.00 $50.00 $38.00 $88.00 $38.00 2 $50.00 $72.00 $122.00 $25.00 $61.00 $34.00 3 $50.00 $102.00 $152.00 $16.67 $34.00 $50.67 4 $50.00 $127.00 $12.50 $31.75 $44.25 $25.00 5 $50.00 $208.00 $31.60 $41.60 $31.00 6 $50.00 $191.00 $241.00...
Let F be the fixed cost of production, let VC be the variable cost of production,...
Let F be the fixed cost of production, let VC be the variable cost of production, C be the total cost, MC be the marginal cost, AFC, the average faced cost AVC, the average variable cost, and AC, the average cost. Complete the following cost table. (Entor numeric responses rounded to two decimal places) Output (a) $264 312 MC AFC AVC AC $64 $200.00 $64.00 $264.00 48 100.00 56.00 156.00 66.67 48.00 50.00 40.00 90.00 N 78.40 33.33 40.00 73.33...
- 4 Average Fixed Average Variable Average Total Total Product Cost Cost Cost Marginal Cost 1...
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4 Average Fixed Average Variable Average Total Total Product Cost Cost Cost Marginal Cost 1 $100.00 $17.00 $117.00 $17 2 50.00 16.00 66.00 151 3 33.33 15.00 48.33 13 25.00 14.25 39.25 121 5 20.00 14.00 34.00 13 6 16.67 14.00 30.67 14 7 14.29 15.71 30.00 26 8 12.50 17.50 30.00 30 9 11.11 19.44 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24.00 33.09 48 121 8.33 26.67 35.00 56 The accompanying table gives cost data...
8) Let F be the fixed cost of production, let VC be the variable cost of...
8) Let F be the fixed cost of production, let VC be the variable cost of production, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the average variable cost, and AC, the average cost. Complete the following cost table. (Enter numeric responses rounded to two decimal places.) Output (q) F $50 N- VCC $32 $82 56 106 72 122 80 MC $32 24 16 8 w 50 50 AFC $50.00 25.00 16.67...
Let F be the fixed cost of production, let VC be the variable cost of production,...
Let F be the fixed cost of production, let VC be the variable cost of production, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the average variable cost, and AC, the average cost. Complete the following cost table. (Enter numeric responses rounded to two decimal places.) Output (q) F $250 VC C $80 $330 140 390 180 430 200 240 490 250 250 250 Ə00 voo AW N- MC AFC AVC AC...
Use the following to answer questions 36-37 Answer the next question(s) on the basis of the...
Use the following to answer questions 36-37 Answer the next question(s) on the basis of the following cost data for a firm which is selling in a purely competitive market Average fixed Average variable Average Total product total Marginal cost $100.00 cost cost cost 1 $17.00 $117.00 66.00 $17 15 13 12 13 14 26 30 35 41 50.00 33.33 25.00 20.00 16.67 16.00 15.00 14.25 14.00 14.00 15.71 48.33 39.25 34.00 5 6 30.67 30.00 7 14.29 12.50 11.11...
Ok, so I know how to answer the question but I also want to
find the MC through the TVC alone. I multiplied the AVC of 6 and 7
but I dont get the same MC of 112.78 using TVC way, for TVC i got
120.02. Is there a reason TVC is different from TC?
Question 11: Refer to the data. If the firm decided to increase its output from 6 to 7 units, what are its marginal costs and...
Calculate the missing values in the cost table for Ag Biz Corp
given below.
Cost Table for AgBiz Corp. Total Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost Product $0 $50.00 1 $50.00 $88.00 $50.00 $38.00 $88.00 $38.00 2 $50.00 $72.00 $122.00 $25.00 $61.00 $34.00 3 $50.00 $102.00 $152.00 $16.67 $34.00 $50.67 4 $50.00 $127.00 $12.50 $31.75 $44.25 $25.00 5 $50.00 $208.00 $31.60 $41.60 $31.00 6 $50.00 $191.00 $241.00...
Let F be the fixed cost of production, let VC be the variable cost of production, C be the total cost, MC be the marginal cost, AFC, the average faced cost AVC, the average variable cost, and AC, the average cost. Complete the following cost table. (Entor numeric responses rounded to two decimal places) Output (a) $264 312 MC AFC AVC AC $64 $200.00 $64.00 $264.00 48 100.00 56.00 156.00 66.67 48.00 50.00 40.00 90.00 N 78.40 33.33 40.00 73.33...
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4 Average Fixed Average Variable Average Total Total Product Cost Cost Cost Marginal Cost 1 $100.00 $17.00 $117.00 $17 2 50.00 16.00 66.00 151 3 33.33 15.00 48.33 13 25.00 14.25 39.25 121 5 20.00 14.00 34.00 13 6 16.67 14.00 30.67 14 7 14.29 15.71 30.00 26 8 12.50 17.50 30.00 30 9 11.11 19.44 30.55 35 10 10.00 21.60 31.60 41 11 9.09 24.00 33.09 48 121 8.33 26.67 35.00 56 The accompanying table gives cost data...
8) Let F be the fixed cost of production, let VC be the variable cost of production, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the average variable cost, and AC, the average cost. Complete the following cost table. (Enter numeric responses rounded to two decimal places.) Output (q) F $50 N- VCC $32 $82 56 106 72 122 80 MC $32 24 16 8 w 50 50 AFC $50.00 25.00 16.67...
Let F be the fixed cost of production, let VC be the variable cost of production, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the average variable cost, and AC, the average cost. Complete the following cost table. (Enter numeric responses rounded to two decimal places.) Output (q) F $250 VC C $80 $330 140 390 180 430 200 240 490 250 250 250 Ə00 voo AW N- MC AFC AVC AC...
Use the following to answer questions 36-37 Answer the next question(s) on the basis of the following cost data for a firm which is selling in a purely competitive market Average fixed Average variable Average Total product total Marginal cost $100.00 cost cost cost 1 $17.00 $117.00 66.00 $17 15 13 12 13 14 26 30 35 41 50.00 33.33 25.00 20.00 16.67 16.00 15.00 14.25 14.00 14.00 15.71 48.33 39.25 34.00 5 6 30.67 30.00 7 14.29 12.50 11.11...
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