2. Complete the following cost table:

Q

FC

VC

TC

MC

AFC

AVC

ATC

0

-

-

-

-

1

10

2

18

5

3

23

4

6.5

where FC is fixed cost, VC is variable cost, TC is total cost, MC is marginal cost, AFC is average fixed cost, AVC is average variable cost, and ATC is average total cost.

Question

2. Complete the following cost table:




Q


FC


VC


TC


MC


AFC


AVC


ATC




0

 
 
 

-


-


-


-




1

 
 
 

10

 
 
 



2

 

18

 
 

5

 
 



3

 

23

 
 
 
 
 



4

 
 
 
 
 

6.5

 



where FC is fixed cost, VC is variable cost, TC is total cost, MC is marginal cost, AFC is average fixed cost, AVC is average variable cost, and ATC is average total cost.

2. Complete the following cost table:

Q

FC

VC

TC

MC

AFC

AVC

ATC

0

-

-

-

-

1

10

2

18

5

3

23

4

6.5

where FC is fixed cost, VC is variable cost, TC is total cost, MC is marginal cost, AFC is average fixed cost, AVC is average variable cost, and ATC is average total cost.

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Principles of Economics

Principles of Macroeconomics

Principles of Microeconomics

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2. Complete the following cost table: Q FC VC TC MC AFC AVC ATC 0 - - - - 1 10 2 18 5 3 23 4 6.5 where FC is fixed cost, VC is variable cost, TC is total cost, MC is marginal cost, AFC is average fixed cost, AVC is average variable cost, and ATC is average total cost.

Unlock all answers

Related textbook solutions

Principles of Economics

Principles of Macroeconomics

Principles of Microeconomics

Weekly leaderboard

2. Complete the following cost table:

Q

FC

VC

TC

MC

AFC

AVC

ATC

0

-

-

-

-

1

10

2

18

5

3

23

4

6.5

where FC is fixed cost, VC is variable cost, TC is total cost, MC is marginal cost, AFC is average fixed cost, AVC is average variable cost, and ATC is average total cost.