Just to make sure you've gotten enough practice using the different formulas in this chapter, let's try a challenging exercise with them. Very little information is given in the following table, but surprisingly, there's enough information for you to fill in all of the missing values if you remember all of the relationships and can think of creative ways to use them.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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10. Just to make sure you've gotten enough practice using the different formulas in this chapter, let's
try a challenging exercise with them. Very little information is given in the following table, but
surprisingly, there's enough information for you to fill in all of the missing values if you
remember all of the relationships and can think of creative ways to use them.
Total Fixed Variable Average
Quantity Cost Cost Cost
Cost
0
10
20
30
40
50
$200
$240
$13.60
Marginal
Cost
|
$4
$20
Total
Revenue
$450
Profits
-$80
Transcribed Image Text:10. Just to make sure you've gotten enough practice using the different formulas in this chapter, let's try a challenging exercise with them. Very little information is given in the following table, but surprisingly, there's enough information for you to fill in all of the missing values if you remember all of the relationships and can think of creative ways to use them. Total Fixed Variable Average Quantity Cost Cost Cost Cost 0 10 20 30 40 50 $200 $240 $13.60 Marginal Cost | $4 $20 Total Revenue $450 Profits -$80
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