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) F Vc MC AFC AVC AC 1 $250 $64 $314 $64 $250.00 $64.00 $314.00 112 362 48 125.00 56.00 181.00 3 250 144 394 32 83.33 48.00 4 250 160 16 62.50 40.00 102.50 250 192 442 32 50.00 88.40 6 250 490 48 41.67 40.00 81.67 7 250 304 554 35.71 43.43 79.14 250 384 634 80 48.00 79.25 9 250 480 730 96 27.78 53.33 81.11 10 250 592 112 25.00 59.20

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) F Vc MC AFC AVC AC 1 $250 $64 $314 $64 $250.00 $64.00 $314.00 112 362 48 125.00 56.00 181.00 3 250 144 394 32 83.33 48.00 4 250 160 16 62.50 40.00 102.50 250 192 442 32 50.00 88.40 6 250 490 48 41.67 40.00 81.67 7 250 304 554 35.71 43.43 79.14 250 384 634 80 48.00 79.25 9 250 480 730 96 27.78 53.33 81.11 10 250 592 112 25.00 59.20

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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