Question
How to find tvc

NAME: CLASS EXERCISE ECO 2023 ATC TOTAL VARIABLE COSTS TOTAL OUTPUT 9.00 4.00 7.00 9.00 10.20 11.20 12.60 16.10 21.10 ー252 2.
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Ans.

OUTPUT,(Q) TVC TC TFC
0 0 4.00 4.00
1 3.00 7.00 4.00
2 5.00 9.00 4.00
3 6.20 10.20 4.00
4 7.20 11.20 4.00
5 8.60 12.60 4.00
6 12.10 16.10 4.00
7 17.10 21.10 4.00
8 24.60 28.60 4.00

Note: TC= TFC+TVC

TFC is independent of change in output level. It remains constant and exists even when output is zero. so, You can see when Q =0, TC= 4.00, i.e. TFC, So, TVC= TC- TFC ( subtract TFC from TC, you will get TVC for each output level.

Add a comment
Know the answer?
Add Answer to:
How to find tvc NAME: CLASS EXERCISE ECO 2023 ATC TOTAL VARIABLE COSTS TOTAL OUTPUT 9.00...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Calculate A) Total Fixed Cost (TFC), Total Variable Cost (TVC), Average Fixed Cost (AFC), Average Variable...

    Calculate A) Total Fixed Cost (TFC), Total Variable Cost (TVC), Average Fixed Cost (AFC), Average Variable Cost (AVC), Average Total Cost (ATC), and Marginal Cost (MC). B) Graph the average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), and the marginal cost (MC) curves on one graph and TFC curve, TVC cost curve, and TC curve on another graph. Quantity Produced        Total Cost          0                         $ 120          1                            135          2                            148          3                            159         ...

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

    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...

  • Consider the following table of costs:             Output &...

    Consider the following table of costs:             Output             Total Variable Costs                 Total Costs             0                                  $0                                $30             1                                  20                                50             2                                  30                                60             3                                  48                                78             4                                  90                                120             5                                  170                              200 a) Plot the total fixed cost (TFC) curve, the total variable cost (TVC) curve, and the total cost (TC) curve on the same graph. b) Briefly explain the reason for the shape of the cost curves in part (a). c) Add to the...

  • 1. Consider the following hypothetical example Output Price P Total Fixed Cost TFC Total Cost TC...

    1. Consider the following hypothetical example Output Price P Total Fixed Cost TFC Total Cost TC Total Variable Cost TVC Average Total Cost ATC Marginal Cost MC 0 100 100 90 1 2 130 158 80 3 183 70 60 4 5 6 7 50 40 30 208 253 308 368 8 20 468 A. Complete the missing figures B. Plot ATC C. Plot AVC D. Plot MC

  • How to calculate the Total Cost (TC), Average Fixed Cost (AFC), Average Total Cost (ATC), and...

    How to calculate the Total Cost (TC), Average Fixed Cost (AFC), Average Total Cost (ATC), and Marginal Cost (MC)? 1. The schedule below gives the Total Variable Cost (TVC) for producing various quantities of smurfs (smurfs are an input into cat food production). The Total Fixed Costs (TFC) is $100. Calculate the following and fill in the blanks: Total Cost (TC), Average Fixed Cost (AFC), Average Variable Cost (AVC), Average Total Cost (ATC), and Marginal Cost (MC). Cost Schedule for...

  • The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopoly...

    The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopoly are shown in the figure below. The figure also shows the demand curve (D) and the marginal revenue curve (MR) for this market. Instructions: Use the tools provided to plot the profit-maximizing quantity (Q), the profit-maximizing price (P), the profit (Profit), and the deadweight loss (DWL). Note that the deadweight loss will be only approximate due to the curvature of the marginal cost curve....

  • Output Total Costs Fixed Costs Variable Costs AFC AVC ATC MC 0 100 100 0 1...

    Output Total Costs Fixed Costs Variable Costs AFC AVC ATC MC 0 100 100 0 1 150 100 50 100 50 150 50 2 225 100 125 50 62.5 112.5 75 3 230 100 130 33.33 43.33 76.67 5 4 300 100 200 25 50 75 70 5 400 100 300 20 60 80 100 Graph the average and marginal cost curves from the previous question. What would be the optimal output, assuming you want to minimize diminishing returns?

  • Output Total Variable Cost 0 $ 0 15 30 60 75 $ 50 $90 $120 $160...

    Output Total Variable Cost 0 $ 0 15 30 60 75 $ 50 $90 $120 $160 $220 $300 $400 $520 $670 $900 90 105 120 135 150 1. Given the above variable cost data and assuming fixed costs equal the value of the last four digits of your MDC student ID (using two decimal places), create a file in Excel that lists Output, Fixed Cost, Variable Cost, Total Cost, Average Fixed Cost, Average Variable Cost, Average Total Cost, and Marginal...

  • Consider the competitive market for halogen lamps. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry.

     Consider the competitive market for halogen lamps. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry. For each price in the following table, use the graph to determine the number of lamps this firm would produce in order to maximize its profit. Assume that when the price is exactly equal to the average variable cost, the firm is indifferent between producing zero lamps and the...

  • Consider the competitive market for copper. Assume that, regardless of how many firms are in the industry, every firm in the Industry is identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on

     6. Short-run supply and long-run equilibrium Consider the competitive market for copper. Assume that, regardless of how many firms are in the industry, every firm in the Industry is identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph. The following diagram shows the market demand for copper. Use the orange points (square symbol) to plot the initial short-run industry supply curve when there are 20 firms in the market. (Hint:...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT