Assume that K=8 in the SR, and w=2; r=4. Please calculate the short run FC, VC(Q), TC(Q), AFC(Q), AFC(Q), ATC(Q), and MC(Q), using te following production function: Q=4K1/3L1/2.
Assume that K=8 in the SR, and w=2; r=4. Please calculate the short run FC, VC(Q),...
1.) Sketch the | AVC, AFC, production short-run and MC function: Tc, vc, F curves for C, ATC, the Q: 3KL where K is ran, with fixed at 2 units in the short r : 3 and w : 2. Q = 312 L 3 (2) +212/6) L=016
L K Q VC FC TC AVC AFC ATC MC 0 5 0 0 5 5 1 5 2 2 5 7 1.00 2.50 3.50 1.00 2 5 6 4 5 9 0.67 0.83 1.50 0.50 3 5 12 6 5 11 0.50 0.42 0.92 0.33 4 5 19 8 5 13 0.42 0.26 0.68 0.29 5 5 25 10 5 15 0.40 0.20 0.60 0.33 6 5 28 12 5 17 0.43 0.18 0.61 0.67 7 5 29 14...
Economics Question 1: Question 2: Q FC | VC TC AFC AVC ATC MC 920 475 60 10 What is the AVC at Q=2 equal to? [Type a whole number, no gaps.] FC VC TC AFC AVC ATC MC 920 475 60 What is the ATC at Q=3 equal to? [Type a whole number, no gaps.]
Given the production function: Q-4(KL)12, w = 16, r-25, and capital is fixed at level Ko. Find the short-run total cost as a fiunction of Q: STCo) a. b. Find the short-run variable cost as a function of Q: VC(O) c. Find the short-run fixed cost as a function of Q: FC(Q) Given fixed cost = $10 and the total cost given belowcompletethetable assumingfixed price of$8.00. Total Product AVC ATC TR Profit AFC TC MC 20 28 lo Io 20...
Find FC, VC, TC, AFC, AVC, ATC, and MC from the following table. Capital costs $50 per unit, and two units of capital are used in the short run. Labor costs $20 per unit. 7. Total Cost Average Average Marginal Variable Cost |(MC) Fixed Units of Units of Variable Average Fixed Labor (L) Cost (FC) Cost (VC) (TC) Total Cost Output (ATC) (Q) Cost Cost (AFC) (AVC) 0 0 1 2 2 4 3 6 4 8 10
Given the below table: Q FC VC TC AFC AVC ATC MC 0 120 1 180 2 220 3 270 4 360 5 470 6 600 Complete the table. Draw the diagram with the curves of TC, VC and FC. Draw the diagram of the curves of ATC, AVC and AFC.
nk spaces of this table. Note that Q, VC. TC, AFC. AVC. ATC. an o output, variable cost, total cost, average fixed cost, average the blank of total cost, and marginal cost, respectively. (10 Points) AFC TAVG 50 n/a n/a n/a n/a 10 10 10 60 30 80 30 6.67 20 36.67 100 150 12.5 37.5 150 30 8.3535 43.33 60 b Please graph the ATC, FC, MC curve respectively (5 Points) c What is shape of ATC and can...
Let the production function be as follow: 2. L0.7 K.3 q(L, K) Also assume w 2 and r=4 Find out if we have increasing, decreasing or constant return to scale. a. Derive the long-run cost function. TC(q) b. Derive the average cost curve. Is it increasing or decreasing or constant in q? С. Let the production function be as follow: 3. q(L, K) LK3 Also assume w-4 and r=3 Find out if we have increasing, decreasing or constant return to...
Quantity FC VC AFC AVC ATC MC [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] 30
Assume the short run variable cost function for Japanese beer is VC = 0.590.67 If the fixed cost (F) is $1800 and the firm produces 400 units, determine the total cost of production (C), the variable cost of production (VC), the marginal cost of production (MC), the average fixed cost of production (AFC), and the average variable cost of production (AVC). What happens to these costs if the firm increases its output to 500?