Calculate ATC, AFC, AVC, and MC as a function of Q and produce a graph of the ATC, AFC, AVC, and MC curves as a function of Q. (Again, use xy graph, connect the points, and make sure these curves are all on the same graph. Also, since ATC, AFC, AVC, and MC are not defined at Q=0, start your graph using Q-1, not Q=0.)
Calculate ATC, AFC, AVC, and MC as a function of Q and produce a graph of the ATC, AFC, AVC, and MC curves as a function of Q. (Again, use xy graph, connect the points, and make sure these curves are all on the same graph. Also, since ATC, AFC, AVC, and MC are not defined at Q=0, start your graph using Q-1, not Q=0.)
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
ONLY ANSWER PART B
![Directions: For each of the following problems you should use EXCEL to calculate the various
measures of costs. There are supplemental instructions for each problem. For your final copy to
turn in you should make sure that each problem is numbered and that headings are provided for
each column of numbers. You should also provide headings for each problem and graph and
other appropriate documentation. Round all numbers to two decimal points.
1. You are given the following total cost function for a firm:
TC = (25+F) +L xQ+0.5 x(Q²)
where F-the number of the letter of the alphabet corresponding to the initial of
your first name, and L-number of the letter of the alphabet corresponding to the
initial of your last name. For example, if your name were Bill Weber, F=2 and
L=23, so (MY NAME IS GABRIEL RIVES)
TC = 27+ 23 xQ+ 0.5 × Q.
Calculate TC, TFC, and TVC for the levels of output between Q-0 and Q=30 (i.e._
Q-0, Q=1, Q=2, Q=3,..., Q=29, Q=30). Make a graph of TC, TFC, and TVC as a
function of Q. (Use an xy graph, connect the points, and make sure these three
curves are all on the same graph.)
a.
Calculate ATC, AFC, AVC, and MC as a function of Q and produce a graph of the
ATC, AFC, AVC, and MC curves as a function ofQ. (Again, use xy.graph, connect
the points, and make sure these curves are all on the same graph. Also, since ATC,
AFC, AVC, and MC are not defined at Q-0, start your graph using Q=1, not Q=0.)
b.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc00f41a8-3019-411c-9841-b4d3b90602dd%2F1e3150b2-11a4-4e6d-830e-e591f609a4a8%2Fldvywv9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Directions: For each of the following problems you should use EXCEL to calculate the various
measures of costs. There are supplemental instructions for each problem. For your final copy to
turn in you should make sure that each problem is numbered and that headings are provided for
each column of numbers. You should also provide headings for each problem and graph and
other appropriate documentation. Round all numbers to two decimal points.
1. You are given the following total cost function for a firm:
TC = (25+F) +L xQ+0.5 x(Q²)
where F-the number of the letter of the alphabet corresponding to the initial of
your first name, and L-number of the letter of the alphabet corresponding to the
initial of your last name. For example, if your name were Bill Weber, F=2 and
L=23, so (MY NAME IS GABRIEL RIVES)
TC = 27+ 23 xQ+ 0.5 × Q.
Calculate TC, TFC, and TVC for the levels of output between Q-0 and Q=30 (i.e._
Q-0, Q=1, Q=2, Q=3,..., Q=29, Q=30). Make a graph of TC, TFC, and TVC as a
function of Q. (Use an xy graph, connect the points, and make sure these three
curves are all on the same graph.)
a.
Calculate ATC, AFC, AVC, and MC as a function of Q and produce a graph of the
ATC, AFC, AVC, and MC curves as a function ofQ. (Again, use xy.graph, connect
the points, and make sure these curves are all on the same graph. Also, since ATC,
AFC, AVC, and MC are not defined at Q-0, start your graph using Q=1, not Q=0.)
b.
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