Quantity | TC $ | MC $ | ||||
0 | 5.00 | |||||
1 | 5.50 | 0.50 | ||||
2 | 6.50 | 1.00 | ||||
3 | 8.00 | 1.50 | ||||
4 | 10.00 | 2.00 | ||||
5 | 12.50 | 2.50 | ||||
6 | 15.50 | 3.00 | ||||
7 | 19.00 | 3.50 | ||||
8 | 23.00 | 4.00 | ||||
9 | 27.50 | 4.50 | ||||
10 | 32.50 | 5.00 | ||||
Marginal cost is additional cost due to the production of one more unit. | ||||||
MC of 1 st unit is TC for 1 unit less TC for 0 units ( $5.50-$5.00)=$0.50. | ||||||
MC of 2nd unit is TC for 2 units less TC for 1 unit ( $6.50-$5.50)=$1.00. | ||||||
The rest of MC can be calculated the same way. | ||||||
Quantity | TC $ | FC $ | VC $ | |||
0 | 5.00 | 5.00 | 0.00 | |||
1 | 5.50 | 5.00 | 0.50 | |||
2 | 6.50 | 5.00 | 1.50 | |||
3 | 8.00 | 5.00 | 3.00 | |||
4 | 10.00 | 5.00 | 5.00 | |||
5 | 12.50 | 5.00 | 7.50 | |||
6 | 15.50 | 5.00 | 10.50 | |||
7 | 19.00 | 5.00 | 14.00 | |||
8 | 23.00 | 5.00 | 18.00 | |||
9 | 27.50 | 5.00 | 22.50 | |||
10 | 32.50 | 5.00 | 27.50 | |||
Fixed cost is the same for all quantity produced. It is incurred when the output is 0. | ||||||
Variable costs is total costs minus fixed costs. | ||||||
Variable costs vary with output. | ||||||
Quantity | TC $ | FC $ | VC $ | ATC $ | AFC $ | AVC $ |
0 | 5.00 | 5.00 | 0.00 | |||
1 | 5.50 | 5.00 | 0.50 | 5.50 | 5.00 | 0.50 |
2 | 6.50 | 5.00 | 1.50 | 3.25 | 2.50 | 0.75 |
3 | 8.00 | 5.00 | 3.00 | 2.67 | 1.67 | 1.00 |
4 | 10.00 | 5.00 | 5.00 | 2.50 | 1.25 | 1.25 |
5 | 12.50 | 5.00 | 7.50 | 2.50 | 1.00 | 1.50 |
6 | 15.50 | 5.00 | 10.50 | 2.58 | 0.83 | 1.75 |
7 | 19.00 | 5.00 | 14.00 | 2.71 | 0.71 | 2.00 |
8 | 23.00 | 5.00 | 18.00 | 2.88 | 0.63 | 2.25 |
9 | 27.50 | 5.00 | 22.50 | 3.06 | 0.56 | 2.50 |
10 | 32.50 | 5.00 | 27.50 | 3.25 | 0.50 | 2.75 |
Average Fixed cost= Total Fixed Cost/Quantity | ||||||
Average variable cost= Total variable Cost/Quantity | ||||||
Average total cost= Total Cost/Quantity | ||||||
explain pls!:) 3. Fill in the chart and draw the MC Quantity MC TC 5.00 US 18181818181 MCATCsa 19.00 23.00 27.50 3...
please explain ! can you explain as well? o Practice for chapters covering costs. This is math practice so you can become more comfortable with margins and formulas used in economics 1. Fill in the chart and draw the TC, FC, and VC TC Quantity TC FC VC 0 5.00 1 5.50 6.50 3 8.00 10.00 12.50 4 6 15.50 19.00 23.00 7 8 6 3 27.50 32.50 9 10 Q 10 2. Fill in the chart and draw the...
MC VI $10 1 30 Fill in the blank spaces of this table. VC TC | AFC | AVC ATC $50 n/a n/a n/a 10 $10 $60.00 2 | 30 | 80 16.67 20 36.67 100 150 12.50 37.50 / 5 150 30 6 / 210 / 260 | 8.33 43.33 3 60 35
Subject Microeconomics Quantity AFC AVC ATC TC MC MR Profit/loss 1 60 45 --- 56 2 30 42.5 3 20 40 4 37.5 5 37 6 37.5 7 38.57 8 40.63 9 43.33 10 46.5 Week 2: Problem: Profitability
3. Calculate the total fixed costs of production in the following table, and fill in the correct values for the various other missing cost items in the table. (I/2 point each for a total of 20 points) MC TVC AVC TFC AFC TC ATC 13 13.00 113 113.00 24 50.00 124 33.33 25.00 20.00 158 44.33 11.00 36.00 14 11.60 17 75 29.17 28.29 28.00 28.11 29.00 23 98 14.00 14.29 198 124 15.50 224 29 11.1 253 10 37...
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...
Consider the following table: uantity TC TFC TVC ATC AFC AVC MC 20 25 29 4 53 63 8 6.5 15 10 20 At what level of output does the firm going from economies of scale to diseconomies of scale? 6 or 7 1 or 2 8 or 9
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
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
Fill in the table: VC AVC TC 25 Output FC AFC ATC MC 15 47 25 30 40 4 6 12 109 20 10 130 Also give a explanation how you calculated those values (ex: First I was able to calculate...then I was able to fill this column, etc.) and give the formulas that you used. Do not submit only the table without any explanation. You have to bring a print version of your homework (no hand writin
3. Given the data below, compute TR, TC, TFC, TVC, ATC, AVC, AFC, MR, MC, AR, and Profit 1 2 3 6 7 8 9 10 11 0 TC = 10 +570 - 80+ TR = 452 - 0 50. Find the profit maximizing level of output and graph all the curves. Note: for both problems. Graph all the total curves together on one graph Graph all the average and marginal curves together on one graph Graph the profit curve...