Use the definitions for TFC, TVC, TC, AFC, AVC, ATC and SMC along with the data provided above to fill in the missing values. Use space below for worksheet. ∞ means infinitely large. Applicable relationships are:

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Name
0
Total
Product
1
2
3
4
5
6
Total Fixed
Cost
Total
Variable
Cost
150
190
Short-Run Cost Puzzle
Total Cost
STC
60
145
295
TFC
Average
Fixed Cost
SMC =
00
SAC = AFC + AVC
||
||
||
Date Due
+
60
TVC
AQ
Use the definitions for TFC, TVC, TC, AFC, AVC, ATC and SMC along with the
data provided above to fill in the missing values. Use space below for worksheet.
∞ means infinitely large. Applicable relationships are:
Q
ATVC
Average
Variable
Cost
0
42.50
ATC
Average
Total Cost
AQ
105
50
Marginal
Cost
45
35
Transcribed Image Text:Name 0 Total Product 1 2 3 4 5 6 Total Fixed Cost Total Variable Cost 150 190 Short-Run Cost Puzzle Total Cost STC 60 145 295 TFC Average Fixed Cost SMC = 00 SAC = AFC + AVC || || || Date Due + 60 TVC AQ Use the definitions for TFC, TVC, TC, AFC, AVC, ATC and SMC along with the data provided above to fill in the missing values. Use space below for worksheet. ∞ means infinitely large. Applicable relationships are: Q ATVC Average Variable Cost 0 42.50 ATC Average Total Cost AQ 105 50 Marginal Cost 45 35
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