You have enough data to accurately complete all cells in the following table of cost curves. For this question, complete the first 5 rows, output 0 through output 4.
Q | TFC | TVC | TC | MC | AFC | AVC | ATC |
0 | |||||||
1 | 20 | ||||||
2 | 10 | ||||||
3 | 113 | ||||||
4 | 11 | 20 | |||||
5 | 16 | ||||||
6 | 84 | ||||||
7 | 17 | ||||||
8 | 49 | ||||||
9 | 314 | ||||||
10 |
Q | TFC | TVC | TC | MC | AFC | AVC | ATC |
0 | 80 | 0 | 80 | --- | --- | --- | --- |
1 | 80 | 20 | 100 | 20 | 80 | 20 | 100 |
2 | 80 | 30 | 110 | 10 | 40 | 15 | 55 |
3 | 80 | 33 | 113 | 3 | 26.67 | 11 | 37.67 |
4 | 80 | 44 | 124 | 11 | 20 | 11 | 31 |
As asked, only first five rows are completed in the above table.
You have enough data to accurately complete all cells in the following table of cost curves....
(Production & Cost) The incomplete table below gives the total, average, and marginal cost curves for a firm. Use the cost function definitions to complete the table. Q TC TVC TFC MC ATC AVC AFC 10 17 2 339 7 15 12 6100 2
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The cost table below has enough information for you to completely fill out the blanks in the five rows (output 0, 1, 2, 3, 4). Here is a hint: at Q=4 you are told that AFC is 30. Since AFC=FC/Q, you know that FC must be 120. And, of course FC is the same for all output levels, including zero. Now you have the first column completed! FC VC TC MC AFC AVC ATC 10 168
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