Given the output (quantity), total fíxed cost and total cost (in RO) in the following table:- Ouantity Total Fixed Total Variable Total Cost Marginal Average Average Total Cost Cost тC Cost Variable Cost Cost TFC TVC MC AVC AC 10 10 10 20 10 28 3 10 34 10 38 5 10 42 10 48 10 56 10 72 Calculate Total Variable cost (TVC) , Average variable cost (AVC), Average cost (AC) and marginal cost (MC) (show your work) Draw only the Average variable cost (AVC) and Marginal Cost (MC) curves. 2.

Given the output (quantity), total fíxed cost and total cost (in RO) in the following table:- Ouantity Total Fixed Total Variable Total Cost Marginal Average Average Total Cost Cost тC Cost Variable Cost Cost TFC TVC MC AVC AC 10 10 10 20 10 28 3 10 34 10 38 5 10 42 10 48 10 56 10 72 Calculate Total Variable cost (TVC) , Average variable cost (AVC), Average cost (AC) and marginal cost (MC) (show your work) Draw only the Average variable cost (AVC) and Marginal Cost (MC) curves. 2.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.

Question

100%

Given the output (quantity), total fíxed cost and total cost (in RO) in the following table:-
Ouantity
Total Fixed Total Variable Total Cost Marginal
Average
Average Total
Cost
Cost
тC
Cost
Variable Cost
Cost
TFC
TVC
MC
AVC
AC
10
10
10
20
10
28
3
10
34
10
38
5
10
42
10
48
10
56
10
72
Calculate Total Variable cost (TVC) , Average variable cost (AVC), Average cost (AC) and
marginal cost (MC)
(show your work)
Draw only the Average variable cost (AVC) and Marginal Cost (MC) curves.
2.

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