Using the numbers representing short run costs in the chart below, calculate the number that belongs in the blank space. q = quantity, TFC = Total Fixed Cost, TC = Total Cost, MC = Marginal Cost %3D Recall that an "X" in the chart means that no number goes in that space. TFC TC MC 200 300 200 450 150 200 570 120 200 670 100 4 200 780 110 200 900 6. 200 1040 140 2. 3.

Using the numbers representing short run costs in the chart below, calculate the number that belongs in the blank space. q = quantity, TFC = Total Fixed Cost, TC = Total Cost, MC = Marginal Cost %3D Recall that an "X" in the chart means that no number goes in that space. TFC TC MC 200 300 200 450 150 200 570 120 200 670 100 4 200 780 110 200 900 6. 200 1040 140 2. 3.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Using the numbers representing short run costs in the chart below, calculate the number that belongs in the blank space. q = quantity, TFC = Total Fixed Cost, TVC = Total Variable Cost, AVC = %3D %3D Average Variable Cost Recall that an "X" in the chart means that no number goes in that space. TFC TVC AVC 300 300 150 75 300 270 135 3. 300 370 123.33 4 300 480 300 650 130 300 840 140 1. 2. 6
Output AFC AVC ATC MC 0 $ --- $ --- $ --- $ --- 1 300 100 400 100 2 150 75 225 50 3 100 70 170 60 4 75 73 148 82 5 60 80 140 108 6 50 90 140 140 7 43 103 146 182 8 38 119 156 234 9 33 138 171 283 10 30 160 190 361 How much is fixed cost (TFC)? The total fixed cost is 300. For the following questions, first check: a) is P greater than or equal to, AVC at any level of output? If not, do not produce. You will lose only your fixed cost (TFC)…
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