Q TFC AFC VC AVC TC ATC MC                                                   1 200   120                                                           2     220                                                           3     305                                                           4     375                                                           5     435                                                           6     485                                                           7     525                                                           8     560                                                           9     595                                                           10     630                                                           11     670                                                           12     720                                                           13     780                                                           14     855                                                           15     940                                                           16     1035                                                           17     1145                                                           18     1270                                                           19     1410                                                           20     1565                                                                                                                             Fill in the above table completely and meticulously plot the AFC, AVC, ATC, and MC curves.                                                                                                                                                                                                                                                                                             This graph and table demonstrate the three short run average cost curves as well as the marginal cost curve. In the readings from the text you will find the formulas for these short run curves. Use these formulas to fill out the table. All of the information you need to fill out the entire table is already on this graph. For instance, in the first column, the Fixed costs are just that, fixed. They do not change with output, so the total fixed costs for one unit would be $200. But it would be the same for 2 units or 3. The number 200 would appear in every box in that column. Total variable costs would be the sum of all variable costs. If the VC for the first unit was $120, the total variable costs for all units up to that point was $120. If the VC was $100 for the second unit, the cost for the first two units would be the sum of the two. Thus the TVC for the first 2 units would be $220. You would add the variable cost of the third unit ($85) to get the total for the first three units. The TVC of the first three units would be $120, plus $100, plus $85, or $305. Use the formulas in the chapter to fill out the table completely. Then plot the curves listed on the assignment sheet. Once you have created a chart for that, save it as a PDF and place it in the drop box for this week.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
                                                                 
Q TFC AFC VC AVC TC ATC MC  
 
                                             
1 200   120                                                          
2     220                                                          
3     305                                                          
4     375                                                          
5     435                                                          
6     485                                                          
7     525                                                          
8     560                                                          
9     595                                                          
10     630                                                          
11     670                                                          
12     720                                                          
13     780                                                          
14     855                                                          
15     940                                                          
16     1035                                                          
17     1145                                                          
18     1270                                                          
19     1410                                                          
20     1565                                                          
                                                                 
Fill in the above table completely and meticulously plot the AFC, AVC, ATC, and MC curves.                                                  
                                                 
                                                 
                                                                 
                                                                 
  This graph and table demonstrate the three short run average cost curves as well as the marginal cost curve. In the readings from the text you will find the formulas for these short run curves. Use these formulas to fill out the table. All of the information you need to fill out the entire table is already on this graph. For instance, in the first column, the Fixed costs are just that, fixed. They do not change with output, so the total fixed costs for one unit would be $200. But it would be the same for 2 units or 3. The number 200 would appear in every box in that column.
Total variable costs would be the sum of all variable costs. If the VC for the first unit was $120, the total variable costs for all units up to that point was $120. If the VC was $100 for the second unit, the cost for the first two units would be the sum of the two. Thus the TVC for the first 2 units would be $220. You would add the variable cost of the third unit ($85) to get the total for the first three units. The TVC of the first three units would be $120, plus $100, plus $85, or $305. Use the formulas in the chapter to fill out the table completely. Then plot the curves listed on the assignment sheet. Once you have created a chart for that, save it as a PDF and place it in the drop box for this week.

     
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Q TFC AFC VC AVC TC ATC MC
1 200   120        
2     220        
3     305        
4     375        
5     435        
6     485        
7     525        
8     560        
9     595        
10     630        
11     670        
12     720        
13     780        
14     855        
15     940        
16     1035        
17     1145        
18     1270        
19     1410        
20     1565        
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