2. Fill in the missing costs from the table provided Quantity Total Average Total of Fixed Fixed Variable Cost Cost (AFC) (TVC) $0 30 Output Cost (Q) (TFC) 0 $200 1 200 2 3 4 5 LD 6 7 8 9 10 200 200 200 200 200 200 200 200 200 3. Answer each of the following: 50 60 65 75 95 125 165 215 275 Average Variable Cost (AVC) Total Cost (TC) a. If TVC-$80 and AVC=4, then what does quantity (Q) equal? Average Marginal Total Cost Cost (MC) (ATC) b. If total cost is $40 when Q=2 and total cost is $45 when Q-3, then what does marginal cost equal? c. What does average variable cost at Q=2 if total variable cost is $15?
2. Fill in the missing costs from the table provided Quantity Total Average Total of Fixed Fixed Variable Cost Cost (AFC) (TVC) $0 30 Output Cost (Q) (TFC) 0 $200 1 200 2 3 4 5 LD 6 7 8 9 10 200 200 200 200 200 200 200 200 200 3. Answer each of the following: 50 60 65 75 95 125 165 215 275 Average Variable Cost (AVC) Total Cost (TC) a. If TVC-$80 and AVC=4, then what does quantity (Q) equal? Average Marginal Total Cost Cost (MC) (ATC) b. If total cost is $40 when Q=2 and total cost is $45 when Q-3, then what does marginal cost equal? c. What does average variable cost at Q=2 if total variable cost is $15?
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 9SQP
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Question
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I already filled out the table, but I don't understand how to answer 3. a, b, and c.
![2. Fill in the missing costs from the table provided
Quantity Total Average Total
of
Fixed
Fixed Variable
Cost
Cost
(AFC) (TVC)
$0
30
Output Cost
(Q)
(TFC)
0
$200
1
200
2
3
4
5
LD
6
7
8
9
10
200
200
200
200
200
200
200
200
200
3. Answer each of the following:
50
60
65
75
95
125
165
215
275
Average
Variable
Cost
(AVC)
Total
Cost
(TC)
a. If TVC-$80 and AVC=4, then what does quantity (Q) equal?
Average Marginal
Total
Cost
Cost
(MC)
(ATC)
b. If total cost is $40 when Q=2 and total cost is $45 when Q-3, then what does marginal cost equal?
c. What does average variable cost at Q=2 if total variable cost is $15?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F39af88cb-6eb0-409d-9998-a38ceaef6071%2Fceb00b55-b6f7-41c6-bb6d-ce95f983169a%2Fqu01gx7_processed.png&w=3840&q=75)
Transcribed Image Text:2. Fill in the missing costs from the table provided
Quantity Total Average Total
of
Fixed
Fixed Variable
Cost
Cost
(AFC) (TVC)
$0
30
Output Cost
(Q)
(TFC)
0
$200
1
200
2
3
4
5
LD
6
7
8
9
10
200
200
200
200
200
200
200
200
200
3. Answer each of the following:
50
60
65
75
95
125
165
215
275
Average
Variable
Cost
(AVC)
Total
Cost
(TC)
a. If TVC-$80 and AVC=4, then what does quantity (Q) equal?
Average Marginal
Total
Cost
Cost
(MC)
(ATC)
b. If total cost is $40 when Q=2 and total cost is $45 when Q-3, then what does marginal cost equal?
c. What does average variable cost at Q=2 if total variable cost is $15?
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