Question
Fill in the missing values in the table below. Periods or commas can be used as...
Fill in the missing values in the table below. Periods or commas can be used as decimal point markers, but aren't necessary for whole numbers.
| Total Output | TFC | TVC | Total Costs | AVC | ATC | MC |
| 0 | 10 | 0 | - | - | - | |
| 1 | 10 | 20 | 10 | 20 | 10 | |
| 2 | 10 | 16 | 26 | 6 | ||
| 3 | 10 | 20 | 30 | 10 | ||
| 4 | 10 | 22 | 32 | 5.50 | ||
| 5 | 10 | 26 | 36 | |||
| 6 | 10 | 32 | 42 | 7 | ||
| 7 | 10 | 40 | 50 | 5.71 | 8 |
Homework Answers
Answer #1
| Total Output | TFC | TVC | Total Costs | AVC | ATC | MC |
| 0 | 10 | 0 | - | - | - | |
| 1 | 10 | 10 | 20 | 10 | 20 | 10 |
| 2 | 10 | 16 | 26 | 8 | 13 | 6 |
| 3 | 10 | 20 | 30 | 6.7 | 10 | 4 |
| 4 | 10 | 22 | 32 | 5.5 | 8 | 2 |
| 5 | 10 | 26 | 36 | 5.2 | 7.2 | 4 |
| 6 | 10 | 32 | 42 | 5.3 | 7 | 6 |
| 7 | 10 | 40 | 50 | 5.71 | 7.1 | 8 |
Below are the formulas/concepts that are used
1. TFC remains fixed at all output levels. So at Q = 1, TFC =
$10.
2. AVC = TVC/Q
3. TC = TFC + TVC
4. ATC = TC + TVC
5. MC is change in the Total Cost or Total Variable Cost when
output changes by 1 unit.
In excel, this is how solution will look like -
Not the answer you're looking for?
Similar Questions
3. Cost Tables (a) Fill in the following table, where TFC = Total Fixed Cost, TVC...
3. Cost Tables
(a) Fill in the following table, where TFC = Total Fixed Cost,
TVC = Total Variable Cost, TC = Total Cost, AFC = Average Fixed
Cost, AVC = Average Variable Cost, ATC = Average Total Cost, and MC
= Marginal Cost. Remember the following relationships:
TFC + TV C = TC
AF C = T F C/Q, AV C = T V C/Q, AT C = T C/Q
MC = ∆TC ∆Q
Output (Q)
TFC
TVC
TC...
Consider the Table 1 below. Assuming that one unit of the variable input costs $10, fill...
Consider the Table 1 below. Assuming
that one unit of the variable input costs $10, fill in the blanks
in the last 6 columns of the table below. (10 points)
Table 1: Production costs
Variable input
Output
TFC
TVC
TC
AVC
ATC
MC
0
0
0
220
10
50
20
110
30
180
40
240
50
290
60
330
70
360
80
380
Complete the table below, which represents the production costs for a typical firm. TP is total...
Complete the table below, which represents the production costs
for a typical firm. TP is total product (which is also Q). Please
note that for the first row (where TP = 0), you cannot calculate
the AFC, the AVC, the ATC and the MC, since there are 0 units being
produced. However, you are expected to calculate the TC for the
first row (where TP =0) and you are also expected to fill in all
the other missing numbers in...
Consider the following table of numbers, which represents demand and cost conditions for a perfectly competitive...
Consider the following table of numbers, which represents demand
and cost conditions for a perfectly competitive firm. The market
price is 600$
(a) Fill in the missing values.
(b) What level of output should the firm produce? Explain.
(c) What do you expect to happen in this industry in the long
run? Explain.
Q
TFC
AFC
TVC
AVC
TC
ATC
MC
TR
MR
Profit
0
xxxx
0
xxxx
570
xxxx
xxxx
xxxx
1
570
240
2
430
3
670
4...
Fill in the missing variables Q FC VC TC AFC AVC ATC MC 0 XXX XXX...
Fill in the missing variables
Q
FC
VC
TC
AFC
AVC
ATC
MC
0
XXX
XXX
XXX
XXX
1
50
20
2
65
15
3
85
4
7 ½
25
5
110
28
6
25 5/6
7
215
30 5/7
60
8
345
43 1/8
9
490
54 4/9
57 7/9
Table 1. Use the information to calculate the following TC, AFC, AVC, ATC, AND MC (I...
Table 1. Use the information to calculate the following
TC, AFC, AVC, ATC, AND MC (I through 50)
TP
TFC
TVC
TC
AFC
AVC
ATC
MC
150
0
(1)
(11)
(21)
(31)
(41)
2
150
70
(2)
(12)
(22)
(32)
(42)
3
150
130
(3)
(13)
(23)
(33)
(43)
4
150
240
(4)
(14)
(24)
(34)
(44)
5
150
300
(5)
(15)
(25)
(35)
(45)
6
150
360
(6)
(16)
(26)
(36)
(46)
7
150
390
(7)
(17)
(27)
(37)...
How do I calculate AVC (Average Variable Cost)? TABLE FOR COMPUTATION OF PROBLEM 23-4 Total Output...
How do I calculate AVC (Average Variable Cost)?
TABLE FOR COMPUTATION OF PROBLEM 23-4
Total Output and Sales
Total Costs
Market Price
Total Revenues
Total Profit
Average Total Cost (ATC)
Average Variable Cost (AVC)
Marginal Cost (MC)
Marginal Revenue (MR)
0
5
10
0
-5
0
0
--
--
1
9
10
10
1
9
4
4
10
2
11
10
20
9
5.5
3
2
10
3
12
10
30
18
4
1
10
4
14
10
40
26...
GIVEN THE FOLLOWING BELOW, please answer problem 1 and problem 2. The values are already given,...
GIVEN THE FOLLOWING BELOW, please answer problem 1 and problem
2. The values are already given, all you need is to graph.
The following are the hypothetical data of costs and
revenues.
QUANTITY
TVC
TFC
TC = TVC + TFC
ATC/AC = TC/QTY
AVC = TVC/QTY
AFC = TFC/QTY
MC
PRICE
TR = PRICE X QUANTITY
0
0
5,000
5,000
0
0
0
0
0
5000
8,500
5,000
13,500
2.7
1.7
1
8,500
5
25,000
10,000
19,000.
5,000
24,000
2.4...
4. Fill in the columns in the following table. What quantity should a profit-maximizing firm produce?...
4. Fill in the columns in the following table. What quantity
should a profit-maximizing firm produce?
q
TFC
TVC
MC
Price
TR
TC
Profit
0
$10
$0
$15
1
10
10
15
2
10
15
15
3
10
20
15
4
10
30
15
5
10
50
15
6
10
80
15
For this activity, you must apply formulas for total variable cost, average variable cost, average total...
For this activity, you must apply formulas for total variable
cost, average variable cost, average total cost, and marginal cost,
and use these computations to determine maximum profit
A firm’s cost curves are given in the following table:
Q
TC
TFC
TVC
AVC
ATC
MC
0
100
100
1
155
100
2
195
100
3
215
100
4
245
100
5
300
100
6
360
100
7
435
100
8
515
100
9
605
100
a) Complete the table.
b)...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 20 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago
asked 3 hours ago
asked 3 hours ago