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 the following cost table. (Enter numeric responses rounded to two decimal places) Output (q) 1 2 3 4 5 6 7 8 9 10 F $250 250 250 250 250 250 250 250 250 250 C AFC MC AVC AC $314 $64 $250.00 $64.00 $314.00 362 48 125.00 56.00 181.00 394 32 83.33 48.00 16 62.50 40.00 410 442 32 50.00 □ 490 48 41.67 40.00 240 304 554 M 35.71 384 634 80 730 480 96 592 842 112 VC $64 112 144 160 192 0 102.50 88.40 81.67 79.14 43.43 48.00 53.33 27 78 59.20 25.00 79 25 81.11 HH 4

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 the following cost table. (Enter numeric responses rounded to two decimal places) Output (q) 1 2 3 4 5 6 7 8 9 10 F $250 250 250 250 250 250 250 250 250 250 C AFC MC AVC AC $314 $64 $250.00 $64.00 $314.00 362 48 125.00 56.00 181.00 394 32 83.33 48.00 16 62.50 40.00 410 442 32 50.00 □ 490 48 41.67 40.00 240 304 554 M 35.71 384 634 80 730 480 96 592 842 112 VC $64 112 144 160 192 0 102.50 88.40 81.67 79.14 43.43 48.00 53.33 27 78 59.20 25.00 79 25 81.11 HH 4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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