Question

Q2: Complete the following table. Show costs to 2 decimal places if they are not whole...

Q2: Complete the following table. Show costs to 2 decimal places if they are not whole numbers. Hint: Start with the second row.

               

Q (units)

TFC ($)

AFC ($/unit)

TVC ($)

AVC ($/unit)

TC ($)

ATC ($/unit)

MC ($/unit)

11

$858

$158

12

$90

$140

Q3: Complete the following table. Hint: Start with the first row.

Q (units)

TFC ($)

TVC ($)

TC ($)

AFC ($/unit)

AVC ($/unit)

ATC ($/unit)

MC ($/unit)

0

$1,800

1

$600

2

$400

3

$1,200

4

$2,800

Homework Answers

Answer #1

Answer 2
The questions can be solved by the following formulae:

TC = TFC + TVC

AFC = TFC/ Q

AVC = TVC/ Q

AC = TC/ Q

MC = TCQ - TCQ-1

Q (units)

TFC ($)

AFC ($/unit)

TVC ($)

AVC ($/unit)

TC ($)

ATC ($/unit)

MC ($/unit)

11

$600

$50

$858

$78

$1458

$132.55

$158

12

$600

$50

$1080

$90

$1680

$140

$222

Answer 3

Q (units)

TFC ($)

TVC ($)

TC ($)

AFC ($/unit)

AVC ($/unit)

ATC ($/unit)

MC ($/unit)

0

$1800

$0

$1,800

1

$1800

$600

$2400

$1800

$600

$2400

$600

2

$1800

$1000

$2800

$900

$500

$1400

$400

3

$1800

$1800

$3600

$600

$600

$1,200

$800

4

$1800

$2,800

$4600

$450

$700

$1150

$1000
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Q3: Complete the following table. Hint: Start with the first row. Q (units) TFC ($) TVC...
Q3: Complete the following table. Hint: Start with the first row. Q (units) TFC ($) TVC ($) TC ($) AFC ($/unit) AVC ($/unit) ATC ($/unit) MC ($/unit) 0 $1,800 – – – – 1 $600 2 $400 3 $1,200 4 $2,800
Given the following information about a firm’s costs, complete the following chart. On one graph, show...
Given the following information about a firm’s costs, complete the following chart. On one graph, show the TC, TFC and TVC.  On a separate graph, show the AFC, AVC, ATC, and MC.  You may use graph paper for this question. Q TC TFC TVC ATC AFC AVC MC 0 -- 50 10.00 100 9.00 150 8.00 200 12.00 7.00 250 6.00 300 7.00 350 8.00 400 9.00
Given the following information about a firm’s costs, complete the following chart. Graph the TC, TFC...
Given the following information about a firm’s costs, complete the following chart. Graph the TC, TFC and TVC on one graph and directly below it (stack) a graph with the ATC, AFC, AVC & MC. Q TC TFC TVC ATC AFC AVC MC 0 $2,500 -- 25 20.00 50 $900 75 $49.33 100 15.00 125 $2,000 150 $5,050 175 $32.29 200 19.00
Complete the following table accurately. [5 Marks]      Draw the TFC, AFC and AVC in one graph...
Complete the following table accurately. [5 Marks]      Draw the TFC, AFC and AVC in one graph Q TVC TFC TC MC ATC AFC AVC 0 0 100 1 20 2 38 3 51 4 62 5 75 6 90
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...
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...
Complete the following table. Output MC VC FC TC ATC AFC AVC ATC-AVC 0 $6,000 100...
Complete the following table. Output MC VC FC TC ATC AFC AVC ATC-AVC 0 $6,000 100 $10 200 $2,500 300 $10,500 400 $36.25 500 $45 600 $20,000 You know several relationships among these variables that will allow you to check your work. For example, AFC decreases as Q increases. AVC approaches ATC from below as output increases.
Complete the following table assuming that each unit of labour costs $65 L Q AP MP...
Complete the following table assuming that each unit of labour costs $65 L Q AP MP TFC$ TVC$ TC$ AC$ MC$ 0 - 400 1 6 65 2 9 3 16 4 19 5 20
Problem 1. The following are the hypothetical data of costs and revenues of DIAMOND CANNING CO....
Problem 1. The following are the hypothetical data of costs and revenues of DIAMOND CANNING CO. , Tambler , General Santos City. QUANTITY TVC TFC TC ATC/AC AVC AFC MC PRICE TR 0 0 5,000 0 5000 8,500 5,000 5 10,000 19,000. 5,000 4 15,000 24,000 5,000 3 20,000 36,000 5,000 2 25,000 45,000 5,000 1 Requirements: Solve the different types of costs and complete the table. Using the graphing paper graph the following. Graph all total costs ; TC,...
3. The total costs for Guidos Pizza are summarized in the following table. Complete the table....
3. The total costs for Guidos Pizza are summarized in the following table. Complete the table. Show how you obtain each category of cost. Q FC VC TC AFC AVC ATC MC 0 4,000 10 8,000 20 10,000 30 16,000 40 24,000 50 40,000 60 60,000