Shows the hourly production and Total Cost estimates for a new manufacturing firm wishing to enter the smartphone market. Fill in the blank cells in columns a., b., c., d., and e. on the table by computing the appropriate values. Table 1. Smart cell phones produced in an hour Total Cost (TC) Variable Costs (VC) Average Variable Costs (AVC) Average Total Costs (ATC) Average fixed Cost (AFC) Marginal Cost (MC) a. b. c. d. e. 0 $3,200 n/a n/a n/a n/a 15 $3,525 30 $3,875 45 $4,250 60 $4,650 75 $5,075 90 $5,525 105 $6,725 120 $8,210 135 $9,950
Smart cell phones produced in an hour
Total Cost (TC)
Variable Costs (VC)
Average Variable Costs (AVC)
Average Total Costs (ATC)
Average Fixed Cost (AFC)
Marginal Cost (MC)
a.
b.
c.
d.
e.
0
$3,200
n/a
n/a
n/a
n/a
15
$3,525
30
$3,875
45
$4,250
60
$4,650
75
$5,075
90
$5,525
105
$6,725
120
$8,210
135
$9,950
Shows the hourly production and Total Cost estimates for a new manufacturing firm wishing to enter the smartphone market. Fill in the blank cells in columns a., b., c., d., and e. on the table by computing the appropriate values. Table 1. Smart cell phones produced in an hour Total Cost (TC) Variable Costs (VC) Average Variable Costs (AVC) Average Total Costs (ATC) Average fixed Cost (AFC) Marginal Cost (MC) a. b. c. d. e. 0 $3,200 n/a n/a n/a n/a 15 $3,525 30 $3,875 45 $4,250 60 $4,650 75 $5,075 90 $5,525 105 $6,725 120 $8,210 135 $9,950
|
Smart cell phones produced in an hour |
Total Cost (TC) |
Variable Costs (VC) |
Average Variable Costs (AVC) |
Average Total Costs (ATC) |
Average Fixed Cost (AFC) |
Marginal Cost (MC) |
|
a. |
b. |
c. |
d. |
e. |
||
|
0 |
$3,200 |
n/a |
n/a |
n/a |
n/a |
|
|
15 |
$3,525 |
|||||
|
30 |
$3,875 |
|||||
|
45 |
$4,250 |
|||||
|
60 |
$4,650 |
|||||
|
75 |
$5,075 |
|||||
|
90 |
$5,525 |
|||||
|
105 |
$6,725 |
|||||
|
120 |
$8,210 |
|||||
|
135 |
$9,950 |
Related textbook solutions
Related questions
Table 1. shows the hourly production and Total Cost estimates for a new manufacturing firm wishing to enter the smart phone market. Fill in the blank cells in columns a., b., c., d., and e. on the table by computing the appropriate values.
| Table 1. | ||||||
| Smart cell phones produced in an hour | Total Cost (TC) | Variable Costs (VC) | Average Variable Costs (AVC) | Average Total Costs (ATC) | Average Fixed Cost (AFC) | Marginal Cost (MC) |
| a. | b. | c. | d. | e. | ||
| 0 | $3,200 | n/a | n/a | n/a | n/a | |
| 15 | $3,525 | |||||
| 30 | $3,875 | |||||
| 45 | $4,250 | |||||
| 60 | $4,650 | |||||
| 75 | $5,075 | |||||
| 90 | $5,525 | |||||
| 105 | $6,725 | |||||
| 120 | $8,210 | |||||
| 135 | $9,950 |
Based on your calculations in completing the table in Question 2, what is this manufacturerâs minimum cost output level? Explain your answer.
3. In Table 3.a., for each level of output, insert into the table the values for: a. the Variable Cost (VC); b. the Average Variable Cost (AVC); c. the Average Total Cost (ATC); and, d. the Average Fixed Cost (AFC). Table 3.a. Cases of LED light bulbs produced in an hour Total Cost Variable Costs Average Variable Costs Average Total Costs Average Fixed Cost a. b. c. d. 0 $4,500 n/a n/a n/a 10 $4,900 20 $5,100 30 $5,300 40 $5,400 50 $5,700 60 $6,700 70 $7,900 80 $9,700 90 $11,800 e. Given the information you computed in Table 3.a., what is the minimum cost output Level? Explain why.
| Table 3.a. | |||||
| Cases of LED light bulbs produced in an hour | Total Cost | Variable Costs | Average Variable Costs | Average Total Costs | Average Fixed Cost |
| a. | b. | c. | d. | ||
| 0 | $4,500 | n/a | n/a | n/a | |
| 10 | $4,900 | ||||
| 20 | $5,100 | ||||
| 30 | $5,300 | ||||
| 40 | $5,400 | ||||
| 50 | $5,700 | ||||
| 60 | $6,700 | ||||
| 70 | $7,900 | ||||
| 80 | $9,700 | ||||
| 90 | $11,800 | ||||
