5. Given the following, complete the box and show calculations. Also draw the following graphs based on the numbers calculated: a. Marginal Physical Product b. Average Fixed Cost c. Average Variable cost d. Total Costs e. Average Total Cost f. Marginal Cost Quantity Marginal Total Average Total of Output Physical (Units) Average Total Variable Variable Costs Fixed Variable Average Marginal Fixed Fixed Costs Costs Total Cost Cost Input, (Capital Labour Units) (workers) Input Product costs Costs Formula: Formula: Formula Formula Formula Formula 1. 1 18 40 20 1 2 37 40 40 1. 57 40 60 1. 4 76 40 80 1 5 94 40 100
5. Given the following, complete the box and show calculations. Also draw the following graphs based on the numbers calculated: a. Marginal Physical Product b. Average Fixed Cost c. Average Variable cost d. Total Costs e. Average Total Cost f. Marginal Cost Quantity Marginal Total Average Total of Output Physical (Units) Average Total Variable Variable Costs Fixed Variable Average Marginal Fixed Fixed Costs Costs Total Cost Cost Input, (Capital Labour Units) (workers) Input Product costs Costs Formula: Formula: Formula Formula Formula Formula 1. 1 18 40 20 1 2 37 40 40 1. 57 40 60 1. 4 76 40 80 1 5 94 40 100
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 18PAE
Related questions
Question
![5. Given the following, complete the box and show calculations. Also draw the following graphs based
on the numbers calculated:
a. Marginal Physical Product
b. Average Fixed Cost
c. Average Variable cost
d. Total Costs
e. Average Total Cost
f. Marginal Cost
Total Average
Fixed Fixed
Costs Costs
Average Total
Variable Variable Costs
Fixed
Variable
Marginal
Total
Marginal
Quantity
of Output Physical
(Units)
Average
Total Cost Cost
Input,
(Capital Labour
Units) (workers)
Input
Product
costs
Costs
Formula:
Formula:
Formula Formula Formula
Formula
1
1
18
40
20
1
2
37
40
40
1
3
57
40
60
1
4
76
40
80
1.
94
40
100](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fab964420-6271-49a5-9af1-150edee7d9a0%2F90fce68f-4c27-44ed-af30-5da87bebf469%2Fum5gs5_processed.png&w=3840&q=75)
Transcribed Image Text:5. Given the following, complete the box and show calculations. Also draw the following graphs based
on the numbers calculated:
a. Marginal Physical Product
b. Average Fixed Cost
c. Average Variable cost
d. Total Costs
e. Average Total Cost
f. Marginal Cost
Total Average
Fixed Fixed
Costs Costs
Average Total
Variable Variable Costs
Fixed
Variable
Marginal
Total
Marginal
Quantity
of Output Physical
(Units)
Average
Total Cost Cost
Input,
(Capital Labour
Units) (workers)
Input
Product
costs
Costs
Formula:
Formula:
Formula Formula Formula
Formula
1
1
18
40
20
1
2
37
40
40
1
3
57
40
60
1
4
76
40
80
1.
94
40
100
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