Homework Answers
| Quantity | Total Cost | Marg Cost | AVC | ATC |
| 0 | 30 | - | - | - |
| 1 | 40 | 10 | 10 | 40 |
| 2 | 55 | 15 | 12.5 | 27.5 |
| 3 | 75 | 20 | 15 | 25 |
| 4 | 100 | 25 | 17.5 | 25 |
| 5 | 130 | 30 | 20 | 26 |
Formula used
TC = TFC + TVC
AVC = TVC/Q
MC = Change in TC / Change in Q
ATC = TC / Q
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1. Complete the following table: Quantity Total Cost Marginal Cost Average Variable Cost Average Total Cost...
Quantity Total cost Total Variable Cost Total Fixed Cost Average Total Cost Average Variable Cost Average...
Quantity Total cost Total Variable Cost Total Fixed Cost Average Total Cost Average Variable Cost Average Fixed Cost Marginal Cost 0 40 0 40 -- -- -- -- 1 55 15 40 55 15 40 15 2 75 35 40 37.5 17.5 20 20 3 100 60 40 33.33 20 13.33 25 4 130 90 40 32.5 22.5 10 30 5 165 125 40 33 25 8 35 6 205 165 40 34.16 27.5 6.66 40 please graph this
10.a) Complete the following table: Quantity Of Variable Total Input Output Marginal Product of Variable Input...
10.a) Complete the following table: Quantity Of Variable Total Input Output Marginal Product of Variable Input Average Product of Variable Input 30 90 b) Draw the marginal product of variable input and comment on its shape.
Complete the following chart. Quantity Total Cost (TC) Total Fixed Cost (FC) Total Variable Cost (VC)...
Complete the following chart. Quantity Total Cost (TC) Total Fixed Cost (FC) Total Variable Cost (VC) Average Total Cost (ATC) Average Fixed Cost (AFC) Average Variable Cost (AVC) Marginal Cost 0 100 0 1 50 2 80 3 100 4 110 5 130 6 160 7 200 8 250 9 310 10 380
3. Complete the following table (six points) Labor Marginal Product Total Cost Quantity Produced Fixed Cost...
3. Complete the following table (six points) Labor Marginal Product Total Cost Quantity Produced Fixed Cost Variable Cost Marginal Cost Average Total Cost (dollars) Average Variable Cost (dollars) (workers) (units) (units) (dollars) (dollars) (dollars) (dollars) $50 $50 $20 $50 $40 $60 $50 $80 $50 $100
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Aver...
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Average Total Cost 0 $24 $16 $50 $108 Refer to Table 13-16. What is the fixed cost of producing units of output? a. $16 b. $24 C. $12 d. $0 20. Refer to Table 13-16 in Question 19. What is the total cost of producing 2 units of output? a $76 b. $74 C. $58 d. $50 21. Refer to Table 13-16 in...
Marginal Fixed Quantity cost cost cost 0 --- Variable cost Total Average fixed Average variable Average...
Marginal Fixed Quantity cost cost cost 0 --- Variable cost Total Average fixed Average variable Average total cost cost cost cost $40.00 $72.00 $105.00 $40.00 $380.00 What is the total cost when producing zero units? total cost: $ What is the marginal cost for the first unit? marginal cost: $ What is the average total cost when producing three units? average total cost: $ What is the average variable cost when producing four units? average variable cost: $ average variable...
3. Given the following information: Quantity Average Fixed Cost Average Variable Cost Average Total Cost Marginal...
3. Given the following information: Quantity Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost 1 300 100 400 100 2 150 75 225 50 3 100 70 170 60 4 75 73 148 80 5 60 80 140 110 6 50 90 140 140 7 43 103 146 180 8 38 119 157 230 9 33 138 290 10 30 160 360 a) If market price is $140, then… 1. the firm will produce quantity ___________ 2....
1) Complete the following table. Output Fixed Cost Total Cost Variable Cost 10 Average Cost Cost...
1) Complete the following table. Output Fixed Cost Total Cost Variable Cost 10 Average Cost Cost Average Variable Cost NA NA 15 8 a) Is this a short run or long run information on cost? Why? b) If the price of the good produced is currently 17, what level of output meets the profit maximizing condition? c) Draw a ligure illustrating the average cost the average variable cost, and the marginal cost curves based on the information in this table.
Labor Marginal Product Quantity Produced Fixed Cost Variable Cost Total Cost Marginal Cost Average Total Cost...
Labor Marginal Product Quantity Produced Fixed Cost Variable Cost Total Cost Marginal Cost Average Total Cost Average Variable Cost (workers) (units) (units) (dollars) (dollars) (dollars) (dollars) (dollars) (dollars) 1 0 $50 $0 2 10 $50 $20 3 25 $50 $40 4 45 $50 $60 5 60 $50 $80 6 70 $50 $100
Average Marginal Total Cost Quantity Variable Variable Fixed Cost |Total Cost Variable Cost $60 $20 $50...
Average Marginal Total Cost Quantity Variable Variable Fixed Cost |Total Cost Variable Cost $60 $20 $50 $90 $140 $200 $270 60 S60R0 110 150 S60 200 20 25 -30 35 26045 80 20 30 40 50 60 70 $60 $60 $60 $60 50 50 52 4 40 330 Consider now that Caloi Bikes produces a quantity of 5 units that it sells for a price of $125 each. 2. What will be the company's profits or losses? How can you...
10.a) Complete the following table: Quantity Of Variable Total Input Output Marginal Product of Variable Input Average Product of Variable Input 30 90 b) Draw the marginal product of variable input and comment on its shape.
3. Complete the following table (six points) Labor Marginal Product Total Cost Quantity Produced Fixed Cost Variable Cost Marginal Cost Average Total Cost (dollars) Average Variable Cost (dollars) (workers) (units) (units) (dollars) (dollars) (dollars) (dollars) $50 $50 $20 $50 $40 $60 $50 $80 $50 $100
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Average Total Cost 0 $24 $16 $50 $108 Refer to Table 13-16. What is the fixed cost of producing units of output? a. $16 b. $24 C. $12 d. $0 20. Refer to Table 13-16 in Question 19. What is the total cost of producing 2 units of output? a $76 b. $74 C. $58 d. $50 21. Refer to Table 13-16 in...
Marginal Fixed Quantity cost cost cost 0 --- Variable cost Total Average fixed Average variable Average total cost cost cost cost $40.00 $72.00 $105.00 $40.00 $380.00 What is the total cost when producing zero units? total cost: $ What is the marginal cost for the first unit? marginal cost: $ What is the average total cost when producing three units? average total cost: $ What is the average variable cost when producing four units? average variable cost: $ average variable...
1) Complete the following table. Output Fixed Cost Total Cost Variable Cost 10 Average Cost Cost Average Variable Cost NA NA 15 8 a) Is this a short run or long run information on cost? Why? b) If the price of the good produced is currently 17, what level of output meets the profit maximizing condition? c) Draw a ligure illustrating the average cost the average variable cost, and the marginal cost curves based on the information in this table.
Average Marginal Total Cost Quantity Variable Variable Fixed Cost |Total Cost Variable Cost $60 $20 $50 $90 $140 $200 $270 60 S60R0 110 150 S60 200 20 25 -30 35 26045 80 20 30 40 50 60 70 $60 $60 $60 $60 50 50 52 4 40 330 Consider now that Caloi Bikes produces a quantity of 5 units that it sells for a price of $125 each. 2. What will be the company's profits or losses? How can you...
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