7. Data for Windsurfing Sail Firm Q = Quantity; FC = Fixed Cost; VC =Variable Cost; TC =Total Cost; MC -Marginal Cost; AFC Average Fixed Cost; AVC=Average Variable Cost; ATC= Average Variable Cost 0 1 2 3 4 5 6 7 (1) Q (2) FC $1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 (3) VC $0 $500 $800 $ 1,000 $1,400 $1.900 $2.600 $3,600 (4) TC (5) MC (6) AFC (7) AVC (8) ATC a. Calculate the TC, MC.AFC, AVC and AFC and complete the Table above. b. On one graph, draw the MC, AFC, AVC and ATC curves. How will you explain the shapes of AFC, ATC and AVC and MC?
7. Data for Windsurfing Sail Firm Q = Quantity; FC = Fixed Cost; VC =Variable Cost; TC =Total Cost; MC -Marginal Cost; AFC Average Fixed Cost; AVC=Average Variable Cost; ATC= Average Variable Cost 0 1 2 3 4 5 6 7 (1) Q (2) FC $1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 (3) VC $0 $500 $800 $ 1,000 $1,400 $1.900 $2.600 $3,600 (4) TC (5) MC (6) AFC (7) AVC (8) ATC a. Calculate the TC, MC.AFC, AVC and AFC and complete the Table above. b. On one graph, draw the MC, AFC, AVC and ATC curves. How will you explain the shapes of AFC, ATC and AVC and MC?
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 8SQP
Related questions
Question
8
![7. Data for Windsurfing Sail Firm
Q = Quantity; FC = Fixed Cost; VC =Variable Cost; TC =Total Cost; MC -Marginal Cost; AFC Average Fixed
Cost; AVC =Average Variable Cost; ATC= Average Variable Cost
0
1
2
3
4
5
6
7
(1)
Q
(2)
FC
$1,000
1,000
1.000
1,000
1,000
1,000
1,000
1.000
(3)
VC
$0
$500
$800
$ 1,000
$1,400
$1.900
$2.600
$3,600
(4)
TC
(5)
MC
(6)
AFC
(7)
AVC
(8)
ATC
a. Calculate the TC, MC.AFC, AVC and AFC and complete the Table above.
b. On one graph, draw the MC, AFC, AVC and ATC curves. How will you explain the shapes of AFC,
ATC and AVC and MC?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6967809e-7a9d-47ec-9c0d-a9511f5ec028%2F27ecd030-38b6-4657-af0f-102496455e10%2F85lmzjg_processed.png&w=3840&q=75)
Transcribed Image Text:7. Data for Windsurfing Sail Firm
Q = Quantity; FC = Fixed Cost; VC =Variable Cost; TC =Total Cost; MC -Marginal Cost; AFC Average Fixed
Cost; AVC =Average Variable Cost; ATC= Average Variable Cost
0
1
2
3
4
5
6
7
(1)
Q
(2)
FC
$1,000
1,000
1.000
1,000
1,000
1,000
1,000
1.000
(3)
VC
$0
$500
$800
$ 1,000
$1,400
$1.900
$2.600
$3,600
(4)
TC
(5)
MC
(6)
AFC
(7)
AVC
(8)
ATC
a. Calculate the TC, MC.AFC, AVC and AFC and complete the Table above.
b. On one graph, draw the MC, AFC, AVC and ATC curves. How will you explain the shapes of AFC,
ATC and AVC and MC?
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