Use the previous production function where capital costs of this firm is $20 per unit, and labor costs $10 per worker. K 10 10 10 10 10 10 10 10 10 L 0 1 2 3 4 5 6 7 8 TP TFC TVC TC AFC AVC ATC 0 5 15 30 50 75 85 90 92 MC A. From the information in the table, calculate total fixed cost (TFC), total variable cost (TVC), total cost (TC), average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), and marginal cost (MC). B. Graph your results, putting TFC, TVC, and TC on one graph and AFC, AVC, ATC, and MC on another. I also posted other questions (C and D). I hope you will answer them too.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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[Item-1AB] Instruction: (refer to the photo below) Kindly answer the question given and provide correct and complete solution. I will dislike your solution if it is incomplete and wrong answer.

 

Use the previous production function where capital costs of
this firm is $20 per unit, and labor costs $10 per worker.
K
10
10
10
10
10
10
10
10
D
10
L
0
1
2
3
4
5
6
7
8
TP TFC TVC TC AFC AVC ATC
0
5
15
30
50
75
85
90
92
MC
A.
From the information in the table,
calculate total fixed cost (TFC), total
variable cost (TVC), total cost (TC),
average fixed cost (AFC), average
variable cost (AVC), average total cost
(ATC), and marginal cost (MC).
B.
Graph your results, putting TFC, TVC,
and TC on one graph and AFC, AVC, ATC,
and MC on another.
I also posted other questions (C and D). I hope you
will answer them too.
Transcribed Image Text:Use the previous production function where capital costs of this firm is $20 per unit, and labor costs $10 per worker. K 10 10 10 10 10 10 10 10 D 10 L 0 1 2 3 4 5 6 7 8 TP TFC TVC TC AFC AVC ATC 0 5 15 30 50 75 85 90 92 MC A. From the information in the table, calculate total fixed cost (TFC), total variable cost (TVC), total cost (TC), average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), and marginal cost (MC). B. Graph your results, putting TFC, TVC, and TC on one graph and AFC, AVC, ATC, and MC on another. I also posted other questions (C and D). I hope you will answer them too.
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