Question

Table given providing you the total product, fixed cost and variable cost, you are required to fill the remaining columns: (marks 20) Total Product Fixed Cost Variable Cost Total cost Average Total Cost Average Fixed Cost Average variable Cost Marginal Cost 0 100 0 1 100 90 2 100 170 3 100 240 4 100 300 5 100 360 6 100 450 7 100 540 8 100 650 9 100 780 10 100 930 Table given providing you the total product, fixed cost and variable cost, you are required to fill the remaining columns: (marks 20) Total Product Fixed Cost Variable Cost Total cost Average Total Cost Average Fixed Cost Average variable Co

s

Marginal Cost 0 100 0 1 100 90 2 100 170 3 100 240 4 100 300 5 100 360 6 100 450 7 100 540 8 100 650 9 100 780 10 100 930

Answer 1

Ans:

Total Product	Fixed Cost	Variable cost	Total Cost	Average Total Cost	Average Fixed Cost	Average Variable Cost	Marginal Cost
0	100	0	100	--	--	--	--
1	100	90	190	190	100	90	90
2	100	170	270	135	50	85	80
3	100	240	340	113.33	33.33	80	70
4	100	300	400	100	25	75	60
5	100	360	460	92	20	72	60
6	100	450	550	91.67	16.67	75	90
7	100	540	640	91.43	14.29	77.14	90
8	100	650	750	93.75	12.50	81.25	110
9	100	780	880	97.78	11.11	86.67	130
10	100	930	1030	103	10	93	150

Explanation:

Total Cost = Total fixed cost + Total variable cost

Average total cost = Total Cost / Quantity

Average fixed cost = Total fixed cost / Quantity

Average variable cost = Total variable cost / Quantity

Marginal cost = Change in Total Cost / Change in Quantity