TC=Total Cost, FC=Fixed Cost, VC-Variable Cost, MC = Marginal Cost, ATC = Average Total Cost, AFC = Average Fixed Cost, AVC = Average Variable Cost Fill out the following cost table. Q TC FC 0 1 2 13456 6 72 If the market price was P = 19, how many should this company produce? What would be the Profit? $ I VC MC ATC AFV AVC XXX XXX XXX XXX 3 9 27 18 11.25 25.8 30 10
TC=Total Cost, FC=Fixed Cost, VC-Variable Cost, MC = Marginal Cost, ATC = Average Total Cost, AFC = Average Fixed Cost, AVC = Average Variable Cost Fill out the following cost table. Q TC FC 0 1 2 13456 6 72 If the market price was P = 19, how many should this company produce? What would be the Profit? $ I VC MC ATC AFV AVC XXX XXX XXX XXX 3 9 27 18 11.25 25.8 30 10
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:TC=Total Cost, FC=Fixed Cost, VC-Variable Cost, MC = Marginal Cost, ATC = Average Total Cost, AFC = Average Fixed Cost, AVC = Average Variable Cost
Fill out the following cost table.
Q
TC
FC
0
1
2
13456
6
72
If the market price was P = 19, how many should this company produce?
What would be the Profit?
$
I
VC
MC
ATC
AFV
AVC
XXX
XXX
XXX
XXX
3
9
27
18
11.25
25.8
30
10
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