Exhibit HW2.4: Total Revenues and Total Costs for a Representative Competitive FirmMoneyTCC61| TRC6-GivenQ1 =2Q2 503 = |8Q4 = |11C5--TFC= S1.60C1 S4.00C2 S8.20C4C3C2C1C3 =Sl0.00C4= S11.20C5=S16.00C6=S22.00C61= S30.40TFC0.Q1 Q2Q304Refer to Exhibit HW2.4. If output is Q4, average total cost is aboutO $2.72O $2.74O $2.76O S2.70B.

Average Total Cost is the total cost per unit of output. ATC=TC/Q When output is Q4=11, Total Cost…

Exhibit HW2.4: Total Revenues and Total Costs for a Representative Competitive Firm Money TC C61 TR C6 Given Q1 = =|5 = |2 Q2 Q3 = |8 Q4= |11 C5 - TFC = |S1.60 Cl = S4.00 C2 = S8.20 C3 = S10.00 C4 = S11.20 C5 = |S16.00 Có = C4 C3 i ¡B C2 C1 S22.00 TFCT IA C61 S30.40 %3D Q1 Q2 Q3 Q4 Refer to Exhibit HW2.4. If output is Q4, average total cost is about O $2.72 O $2.74 O $2.76 O $2.70

Exhibit HW2.4: Total Revenues and Total Costs for a Representative Competitive Firm Money TC C61 TR C6 Given Q1 = =|5 = |2 Q2 Q3 = |8 Q4= |11 C5 - TFC = |S1.60 Cl = S4.00 C2 = S8.20 C3 = S10.00 C4 = S11.20 C5 = |S16.00 Có = C4 C3 i ¡B C2 C1 S22.00 TFCT IA C61 S30.40 %3D Q1 Q2 Q3 Q4 Refer to Exhibit HW2.4. If output is Q4, average total cost is about O $2.72 O $2.74 O $2.76 O $2.70

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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