3. Calculate TOC, AFC, AVC, ATC and MC.Average Average Average MarginalFixedUnits ofFixedProduct | CostsTotalVariableTotaltheCostsCostsVariableTotalCostsVariableCostsCostsCosts(ТР)(FC)(VC)(TC)(М)Factor(AFC)(AVC)АТC)(Labor)501502012504019506042550803.

3) The formulas below would be required for the values in the table. TC= FC+ VC Total cost is the…

3. Calculate TC, AFC, AVC, ATC and MC. Fixed Variable Costs Average Average Average Marginal Units of Total Total the Product | Costs Costs Fixed Variable Total Costs Variable Costs Costs Costs (ТР) (FC) (VC) (ТC) (МC) Factor (AFC) (AVC) АТC) (Labor) 50 1 5 50 20 2 12 50 40 3 19 50 60 4 25 50 80

3. Calculate TC, AFC, AVC, ATC and MC. Fixed Variable Costs Average Average Average Marginal Units of Total Total the Product | Costs Costs Fixed Variable Total Costs Variable Costs Costs Costs (ТР) (FC) (VC) (ТC) (МC) Factor (AFC) (AVC) АТC) (Labor) 50 1 5 50 20 2 12 50 40 3 19 50 60 4 25 50 80

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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When the volume of production is higher than the volume of production at break even point than the maximum increase of fixed cost in order to not cause a. Current variable cost b. Current amount of profit c. Current amount of sales d. Current direct cost
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Output (unit) Total Cost (RM) Price (RM) 1 550 660 2 670 585 3 720 510 4 740 435 800 360 960 285 1190 210 135 60 8 1520 2160 Table 3 Table 3 shows data for a firm's production and costs in the long run. a. Based on Table 3, compute the marginal cost, average cost, marginal revenue, and average revenue as the output increases from 0 to 9 units. C. Based on your calculation from question (a), show the quantity and price where the equilibrium condition is found.
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Figure: Short-Run Costs Cost curves (dollars) $200 150 100 50 total cost F: 0 1 2 3 D average total cost average variable cost marginal cost A 4 C Please, look at the above figure, which represents short run costs curves. Curve A represents the curve. B 5 6 7 8 9 10 11 Quantity of output (per day)
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es Output 6 1 2 3 4 5 S 6 17 8 9 Total Cost $ 2,500 3,416 4,040 4.480 4,900 5,220 5,540 6,310 7,328 9,718 2500 Total Variable Cost b. What is the value of total fixed cost? 6 units $ 0 units 910 1540 1980 2400 2720 3040 3810 4820 7210 Marginal Cost c. What is the most productive level of output? $ 910 630 440 420 320 320 770 1010 2390 Average Total Cost $ d. At what output is economic capacity? Output: e. If TFC doubled, what is the marginal cost of the 7th unit? 3410 2020 1493.33 1225 1044 923.33 901.42 915 1078.89 Average Variable Cost $ 910 770 660 600 544 506.67 544 29 6025 801.11 Average Fixed Cost 2500 1250 833.33 625 500 416.67 35713 312.5 27778
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