AVC = VC /Q
AFC = FC / Q
ATC = AVC + AFC
Q | VC | FC | AVC | AFC | ATC |
0 | 0 | 10 | |||
1 | 15 | 10 | 15.00 | 10.00 | 25.00 |
2 | 25 | 10 | 12.50 | 5.00 | 17.50 |
3 | 30 | 10 | 10.00 | 3.33 | 13.33 |
4 | 38 | 10 | 9.50 | 2.50 | 12.00 |
5 | 50 | 10 | 10.00 | 2.00 | 12.00 |
6 | 70 | 10 | 11.67 | 1.67 | 13.33 |
Minimum ATC occurs when 5 units are produced
Reference: Ref 11-25 Table: Costs of Birthday Cakes Table: Costs of Birthday Cakes Quantity of cakes...
sorry i meant to post number 14 but if you could do 13 that would be nice too :D thank you Saramond BI U 12 AA Aa A EVEEV albe x x Ave A v 3 21 vv Ayu Styles Styles Pane 13a) Draw a figure showing the typical shape of the average fixed cost (AFC) curve (2 points) and explain why it takes this shape (2 points) 13b) Draw a figure showing a typical average total cost (ATC) curve...
W This table describes the cost structure for a firm producing cakes. Fixed Costs, FC Total Costs, TC Q (number of cakes produced) 0 1 2 3 Variable Costs, VC 0 Average Variable Costs, AVC Average Total Costs, ATC 40 70 70 4 40 270 5 330 What is the average variable cost (AVC) of producing 4 cakes? $80 $50 $40 $20
This table describes the cost structure for a firm producing cakes. Q (number of cakes produced) 0 Fixed Costs, FC Variable Costs, VC 0 Total Costs, TC Average Variable Costs, AVC Average Total Costs, ATC 1 40 70 70 40 2 3 4 5 270 330 What is the average total cost (ATC) of producing 5 cakes? $80 $50 $40 $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
What is the average variable cost (AVC) of producing 4 cakes? 1) $80 2) $50 3) $40 3) $20 This table describes the cost structure for a firm producing cakes. Fixed Costs, FC Total Costs, TC Average Variable Costs, AVC Average Total Costs, ATC Q (number of cakes produced) 0 1 2 3 Variable Costs, VC 0 40 70 70 40 4 270 5 330
(Table: Cakes) Use Table: Cakes. Pat is opening a bakery to make and sell special birthday cakes. She is trying to decide how many mixers to purchase. Her estimated fixed and average variable costs if she purchases 1, 2, or 3 mixers are shown in the table. Assume that average variable costs do not vary with the quantity of output. If Pat purchases 1 mixer and bakes 100 cakes per day, what is her average total cost? Table: Cakes Number...
The total costs for Morris Industries are summarized in the following table. Based on this information, fill in the missing entries in the table for fixed cost, variable cost, average fixed cost, average variable cost, average total cost, and marginal cost. (1) (2) (3) (4) (5) (6) (7) (8) Q FC VC TC AFC AVC ATC MC 0 1,000 10 2,000 20 2,500 30 4,000 40 6,000 50 10,000 60 15,000
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Annie has a bakery that specializes in birthday cakes. Her fixed costs are $10. Her variable costs are shown in the table below. Table: Costs of Birthday Cakes Quantity of cakes Variable Cost 50 What is the average total cost of 2 cakes? $2,50 OOO $17.50 $12.50 > Moving to the next question prevents changes to this answer Qu Question 7 4 points The XYZ company produces 300 units of output at a total cost of $1,000. The company's fixed...
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