1 2 3 4 5 7 8 Units Total Total Total Average fixed cost (R) Average variable cost Average product fixed cost variable cost (R) of Total cost Marginal total land (units) (R) (R) TP TFC TVC (R) AFC AVC cost (R) cost TC ATC or AC (R) MC 20 9 000 9 000 20 16 9 000 2 400 11 400 20 44 9 000 4 800 13 800 7 200 9 600 20 78 9 000 16 200 20 113 9 000 18 600 20 145 9 000 12 000 21 000 20 171 9 000 14 400 23 400 20 190 9 000 16 800 25 800 20 200 9 000 19 200 28 200 9 000 9 000 20 200 21 600 30 600 20 187 24 000 33 000
1 2 3 4 5 7 8 Units Total Total Total Average fixed cost (R) Average variable cost Average product fixed cost variable cost (R) of Total cost Marginal total land (units) (R) (R) TP TFC TVC (R) AFC AVC cost (R) cost TC ATC or AC (R) MC 20 9 000 9 000 20 16 9 000 2 400 11 400 20 44 9 000 4 800 13 800 7 200 9 600 20 78 9 000 16 200 20 113 9 000 18 600 20 145 9 000 12 000 21 000 20 171 9 000 14 400 23 400 20 190 9 000 16 800 25 800 20 200 9 000 19 200 28 200 9 000 9 000 20 200 21 600 30 600 20 187 24 000 33 000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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