The following incomplete table shows a firm's various costs of producing up to 6 units ofoutput. Fill in as much of the table as possible. If you cannot determine the number in a box,explain why it is not possible to do so.In this task, please, write all answers for TCTCVCFCACMCAVC1456215313047701302206.1100Enter your answer

TC => total cost VC => variable cost FC => fixed cost AC => average cost MC =>…

Answered: to do so. In this task, please, write…

Business

Economics

to do so. In this task, please, write all answers for TC TC VC FC AC MC AVC 1 456 2 215 3 130 4. 770 130 220 6. 1100

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

The following incomplete table shows a firm's various costs of producing up to 6 units of
output. Fill in as much of the table as possible. If you cannot determine the number in a box,
explain why it is not possible to do so.
In this task, please, write all answers for TC
TC
VC
FC
AC
MC
AVC
1
456
215
3
130
4
770
130
220
6.
1100
Enter your answer

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Complete the following table. Missing values are denoted by a number inside parentheses (X). Place your answers in the corresponding numbered fields below the table. Quantity FC VC TC AFC AVC ATC MC 0 144 0 (1) 1 2 3 4 --- --- (2) (3) 179 (4) (5) (6) (8) (9) (10) (11) 30 (14) (15) (16) (17) (18) (19) 15 (20) (21) (22) (23) (24) 60 (25) (7) m (12) (13)
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Q Total Cost ATC AFC MC 0 10 - - - 10 12 12/10=1.2 10/10=1 12-10/10-0=0.2 20 16 16/20=0.8 10/20=0.5 16-12/20-10=0.4 30 26 26/30=0.867 10/30=0.333 26-16/30-20=1 40 38 38/40=0.95 10/40=0.25 38-26/40-30=1.2 50 75 75/50=1.2 10/50=0.2 75-38/50-40=3.7 60 120 120/60=2 10/60=0.167 120-75/60-50=4.5 If the market price is $1.00 then what output or q (in the units of 10) is the most profitable production level?
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Question 19 What is the marginal cost of the fourth unit? Q 1 FC VC 50 50 2 3 4 50 588 60 ○ 70 ○ 80 O O O TC MC AFC AVC ATC 60 120 60 500
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