A firm's fixed costs for 0 units of output and its average total cost of producing different output levels are summarized in the table below. Complete the table to find the fixed cost, variable cost, total cost, average fixed cost, the average variable cost, and marginal cost at all relevant levels of output.
Instruction: Round your answers for Average Fixed Cost (AFC) and Average Variable Cost (AVC) to 2 decimal places.
Q
FC
VC
TC
AFC
AVC
ATC
MC
0
$15,000
-
-
-
-
100
300
200
200
300
175
400
225
500
325
600
400
A firm's fixed costs for 0 units of output and its average total cost of producing different output levels are summarized in the table below. Complete the table to find the fixed cost, variable cost, total cost, average fixed cost, the average variable cost, and marginal cost at all relevant levels of output.
Instruction: Round your answers for Average Fixed Cost (AFC) and Average Variable Cost (AVC) to 2 decimal places.
|
Q |
FC |
VC |
TC |
AFC |
AVC |
ATC |
MC |
|
0 |
$15,000 |
- |
- |
- |
- |
||
|
100 |
300 |
||||||
|
200 |
200 |
||||||
|
300 |
175 |
||||||
|
400 |
225 |
||||||
|
500 |
325 |
||||||
|
600 |
400 |
Related textbook solutions
Related questions
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.
Use the following information to determine the total fixed costs, total variable costs, average fixed costs, average variable costs, average total cost, and marginal costs.
| Total Output | Costs | TFC | TVC | AFC | AVC | ATC | MC |
|---|---|---|---|---|---|---|---|
| 0 | $100 | ||||||
| 1 | $150 | ||||||
| 2 | $225 | ||||||
| 3 | $230 | ||||||
| 4 | $300 | ||||||
| 5 | $400 |
Use the following information to determine the total fixed costs (TFC), total variable costs (TVC), average fixed costs (AFC), average variable costs (AVC), average total cost (ATC), and marginal costs (MC).
| Total Output | Costs (in $) |
| 0 | 100 |
| 1 | 150 |
| 2 | 225 |
| 3 | 230 |
| 4 | 300 |
| 5 | 400 |
