1:27CesA firm's output, variable costs, and total costs are given in the table below.Instructions: Enter your answers as a whole number.a. Calculate marginal cost using the formula given in the chapter: ATotal cost/AQuantity.Quantity10203050Quantity010203040Variable cost($)b. Calculate AVariable cost/AQuantity.5050120200300420Variable cost50120200300Total cost ($)420100150220300400520Total cost ($)100150220300400520Marginal cost ($)AVariable cost ($)/AQuantity

Marginal cost is the change in the total cost due to the change in the quantity. MC = dTC /dQ here…

127 Instructions: Enter your answers as a whole number. a. Calculate marginal cost using the formula given in the chapter. ATotal cost/AQuantity. Quantity e 20 20 30 40 50 Quantity e 10 20 30 40 Variable cost ($) e 50 50 120 b. Calculate AVariable cost/AQuantity. Variable cost ($) e 200 300 420 50 120 200 300 Total cost (5) 420 100 150 220 300 400 520 Total cost ($) 100 150 220 300 400 520 Marginal cost ($) AVariable cost ($)/ AQuantity

127 Instructions: Enter your answers as a whole number. a. Calculate marginal cost using the formula given in the chapter. ATotal cost/AQuantity. Quantity e 20 20 30 40 50 Quantity e 10 20 30 40 Variable cost ($) e 50 50 120 b. Calculate AVariable cost/AQuantity. Variable cost ($) e 200 300 420 50 120 200 300 Total cost (5) 420 100 150 220 300 400 520 Total cost ($) 100 150 220 300 400 520 Marginal cost ($) AVariable cost ($)/ AQuantity

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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