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?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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