Table 1A: Costs and Total Production for a Competitive FirmTotalTotalTotalTotal Marginal AverageAverageAverageProduct Fixed Cost VariableCost CostFixed Cost VariableTotal(Q)(TFC)Cost (TVC) (TC) (MC)(AFC)Cost (AVC) Cost (ATC)1.$20.00$40.00FK.$50.00BG.$58.00H.W*పటలాక$70.00D$85.00E JYRefer to Table 1A. Blanks Fand Y can be best filled with values ofandrespectively.O $11.00: $22.00O $10.00: S21.00O $10.00: $22.00O $11.00: $21.00POR STA,C.寸 5

Fixed cost is independent of output produced whereas variable cost varies with the level of…

Table 1A: Costs and Total Production for a Competitive Firm Total Total Total Total Marginal Average Average Average Product Fixed Cost Variable Cost Cost Fixed Cost Variable Total (Q) (TFC) Cost (TVC) (TC) (MC) (AFC) Cost (AVC) Cost (AT 1 $20.00 $40.00 K U $50.00 L 3. $58.00 H. R W 4 $70.00 D I $85.00 E Y Refer to Table 1A. Blanks Fand Y can be best filled with values of and respectively. O $11.00; $22.00 O $10.00; $21.00 O $10.00; $22.00

Table 1A: Costs and Total Production for a Competitive Firm Total Total Total Total Marginal Average Average Average Product Fixed Cost Variable Cost Cost Fixed Cost Variable Total (Q) (TFC) Cost (TVC) (TC) (MC) (AFC) Cost (AVC) Cost (AT 1 $20.00 $40.00 K U $50.00 L 3. $58.00 H. R W 4 $70.00 D I $85.00 E Y Refer to Table 1A. Blanks Fand Y can be best filled with values of and respectively. O $11.00; $22.00 O $10.00; $21.00 O $10.00; $22.00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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