Continue with the table and complete the calculation for Marginal Cost: Round to the table standard. Q3 Table Bags/ Participants Fixed Cost Variable Cost Total Cost Average Variable Cost Marginal Cost Total Revenue wt Price $20 Marginal Revenue Total Profit 0 1700 0 1700 0 -1700 100 1700 500 2200 a 2000 20 -200 200 1700 1200 2900 b 4000 20 1100 300 1700 2700 4400 c 6000 20 1600 400 1700 5200 6900 d 8000 20 1100 500 1700 9000 10700 e 10000 20 -700 600 1700 15000 16700 f 12000 20 -4700 700 1700 23800 25500 g 14000 20 -11500 800 1700 36800 38500 h 16000 20 -22500 900 1700 55800 57500 i 18000 20 -39500 1000 1700 83000 84700 j 20000 20 -64700
Continue with the table and complete the calculation for Marginal Cost: Round to the table standard. Q3 Table Bags/ Participants Fixed Cost Variable Cost Total Cost Average Variable Cost Marginal Cost Total Revenue wt Price $20 Marginal Revenue Total Profit 0 1700 0 1700 0 -1700 100 1700 500 2200 a 2000 20 -200 200 1700 1200 2900 b 4000 20 1100 300 1700 2700 4400 c 6000 20 1600 400 1700 5200 6900 d 8000 20 1100 500 1700 9000 10700 e 10000 20 -700 600 1700 15000 16700 f 12000 20 -4700 700 1700 23800 25500 g 14000 20 -11500 800 1700 36800 38500 h 16000 20 -22500 900 1700 55800 57500 i 18000 20 -39500 1000 1700 83000 84700 j 20000 20 -64700
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Continue with the table and complete the calculation for Marginal Cost:
Round to the table standard.
Q3 Table
Bags/ Participants | Fixed Cost | Variable Cost | Total Cost | Marginal Cost | Total Revenue wt Price $20 | Marginal Revenue | Total Profit | |
---|---|---|---|---|---|---|---|---|
0 | 1700 | 0 | 1700 | 0 | -1700 | |||
100 | 1700 | 500 | 2200 | a | 2000 | 20 | -200 | |
200 | 1700 | 1200 | 2900 | b | 4000 | 20 | 1100 | |
300 | 1700 | 2700 | 4400 | c | 6000 | 20 | 1600 | |
400 | 1700 | 5200 | 6900 | d | 8000 | 20 | 1100 | |
500 | 1700 | 9000 | 10700 | e | 10000 | 20 | -700 | |
600 | 1700 | 15000 | 16700 | f | 12000 | 20 | -4700 | |
700 | 1700 | 23800 | 25500 | g | 14000 | 20 | -11500 | |
800 | 1700 | 36800 | 38500 | h | 16000 | 20 | -22500 | |
900 | 1700 | 55800 | 57500 | i | 18000 | 20 | -39500 | |
1000 | 1700 | 83000 | 84700 | j | 20000 | 20 | -64700 |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education