Let F be the fixed cost of production, let VC be the variable cost of production, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the average variable cost, and AC, the average cost. Complete th following cost table. (Enter numeric responses rounded to two decimal places.) Output (q) 1 23 2 4 5 6 7 8 9 10 F $200 200 200 200 200 200 200 200 200 200 VC с $64 $264 $64 112 312 48 144 344 32 160 16 192 392 32 440 48 Q 304 504 384 584 80 480 680 96 592 112 AFC MC AVC AC $200.00 $64.00 $264.00 56.00 156.00 100.00 48.00 40.00 66.67 50.00 40.00 33.33 28.57 22.22 20.00 40.00 43.43 48.00 53.33 59.20 0 90.00 78.40 73.33 72.00 73.00 75.56
Let F be the fixed cost of production, let VC be the variable cost of production, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the average variable cost, and AC, the average cost. Complete th following cost table. (Enter numeric responses rounded to two decimal places.) Output (q) 1 23 2 4 5 6 7 8 9 10 F $200 200 200 200 200 200 200 200 200 200 VC с $64 $264 $64 112 312 48 144 344 32 160 16 192 392 32 440 48 Q 304 504 384 584 80 480 680 96 592 112 AFC MC AVC AC $200.00 $64.00 $264.00 56.00 156.00 100.00 48.00 40.00 66.67 50.00 40.00 33.33 28.57 22.22 20.00 40.00 43.43 48.00 53.33 59.20 0 90.00 78.40 73.33 72.00 73.00 75.56
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
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