0 1 2 3 4 Total Product 5 6 Total Fixed Cost Total Variable Cost 165 Total Cost STC Q SAC = AFC + AVC || || AQ TFC Q SMC = Average Fixed Cost 22 53 AQ Use the definitions for TFC, TVC, TC, AFC, AVC, ATC and SMC along with the data provided above to fill in the missing values. Use space below for worksheet. ~ means infinitely large. Applicable relationships are: TVC Average Variable Cost 0 Q ATVC 60 Average Total Cost ATC 112.50 74.17 Marginal Cost 45 60

0 1 2 3 4 Total Product 5 6 Total Fixed Cost Total Variable Cost 165 Total Cost STC Q SAC = AFC + AVC || || AQ TFC Q SMC = Average Fixed Cost 22 53 AQ Use the definitions for TFC, TVC, TC, AFC, AVC, ATC and SMC along with the data provided above to fill in the missing values. Use space below for worksheet. ~ means infinitely large. Applicable relationships are: TVC Average Variable Cost 0 Q ATVC 60 Average Total Cost ATC 112.50 74.17 Marginal Cost 45 60

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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