Solve both subparts correctly and not use of excel 4. Consider the table below which shows the total fixed costs (TFC) and variable costs(TVC) for producing Audrey Cat Food in a small factory with a fixed amount of capital.Total Fixed CostOutput per year(000's of catfood)Total Variable Cost(TFC) ($000's)(TVC) ($000's)200120040200702009042001002001102001307200160200200a) Compute the average fixed cost (AFC), average variable cost (AVC), marainalcost (MC) and average total cost (ATC) for each level of output.b) Explain the relationship between the between marginal cost and averagevariable cost.

The average cost can be calculated by dividing the total cost by the level of output. Marginal cost…

4. Consider the table below which shows the total fixed costs (TFC) and variable costs (TVC) for producing Audrey Cat Food in a small factory with a fixed amount of capital. Output per year (000's of cat food) Total Fixed Cost (TFC) ($000's) Total Variable Cost (TVC) ($000's) 200 1 200 40 2 200 70 200 90 4 200 100 200 110 6. 200 130 200 160 8 200 200 a) Compute the average fixed cost (AFC), average variable cost (AVC), marainal cost (MC) and average total cost (ATC) for each level of output.

4. Consider the table below which shows the total fixed costs (TFC) and variable costs (TVC) for producing Audrey Cat Food in a small factory with a fixed amount of capital. Output per year (000's of cat food) Total Fixed Cost (TFC) ($000's) Total Variable Cost (TVC) ($000's) 200 1 200 40 2 200 70 200 90 4 200 100 200 110 6. 200 130 200 160 8 200 200 a) Compute the average fixed cost (AFC), average variable cost (AVC), marainal cost (MC) and average total cost (ATC) for each level of output.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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