Complete the Daily Production Cost Schedule table below. Quantity MR = Price per Unit TFC TVC AFC AVC TC ATC MC 0 $ 325.00 $ 100.00 1 $ 325.00 $ 100.00 $ 400.00 2 $ 325.00 $ 100.00 $ 600.00 3 $ 325.00 $ 100.00 $ 750.00 4 $ 325.00 $ 100.00 $ 950.00 5 $ 325.00 $ 100.00 $ 1,200.00 6 $ 325.00 $ 100.00 $ 1,525.00 7 $ 325.00 $ 100.00 $ 1,950.00 Abbreviations: MR: Marginal revenue TFC: Total fixed cost TVC: Total variable cost AFC: Average fixed cost AVC: Average variable cost TC: Total cost ATC: Average total cost MC: Marginal cost
Complete the Daily Production Cost Schedule table below. Quantity MR = Price per Unit TFC TVC AFC AVC TC ATC MC 0 $ 325.00 $ 100.00 1 $ 325.00 $ 100.00 $ 400.00 2 $ 325.00 $ 100.00 $ 600.00 3 $ 325.00 $ 100.00 $ 750.00 4 $ 325.00 $ 100.00 $ 950.00 5 $ 325.00 $ 100.00 $ 1,200.00 6 $ 325.00 $ 100.00 $ 1,525.00 7 $ 325.00 $ 100.00 $ 1,950.00 Abbreviations: MR: Marginal revenue TFC: Total fixed cost TVC: Total variable cost AFC: Average fixed cost AVC: Average variable cost TC: Total cost ATC: Average total cost MC: Marginal cost
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter4: Extent (how Much) Decisions
Section: Chapter Questions
Problem 3MC
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Question
Complete the Daily Production Cost Schedule table below.
|
Quantity |
MR = Price per Unit |
TFC |
TVC |
AFC |
AVC |
TC |
ATC |
MC |
|
0 |
$ 325.00 |
$ 100.00 |
|
|
|
|
|
|
|
1 |
$ 325.00 |
$ 100.00 |
$ 400.00 |
|
|
|
|
|
|
2 |
$ 325.00 |
$ 100.00 |
$ 600.00 |
|
|
|
|
|
|
3 |
$ 325.00 |
$ 100.00 |
$ 750.00 |
|
|
|
|
|
|
4 |
$ 325.00 |
$ 100.00 |
$ 950.00 |
|
|
|
|
|
|
5 |
$ 325.00 |
$ 100.00 |
$ 1,200.00 |
|
|
|
|
|
|
6 |
$ 325.00 |
$ 100.00 |
$ 1,525.00 |
|
|
|
|
|
|
7 |
$ 325.00 |
$ 100.00 |
$ 1,950.00 |
|
|
|
|
|
Abbreviations:
MR: Marginal revenue
TFC: Total fixed cost
TVC: Total variable cost
AFC: Average fixed cost
AVC:
TC: Total cost
ATC:
MC: Marginal cost
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