Question

Complete the cost chart below for Germaine’s Cut-Flower Business. Round the answers to the hundredths place.

Y=TPP (_)	TVC (_)	TC (_)	AVC (_)	ATC (_)	MC (___)
0	0				-----
5	30
15	60
35	90
45	120
50	150
52	180

Answer 1

TC= TVC+TFC

When there is no TFC then:

TC=TVC

AVC= TVC/Y

ATC=TC/Y

MC= Change in TVC/Change in Y

Y=TPP (_)	TVC	TC	AVC(TVC/Y)	ATC	MC(change in TVC/Change in Y)
0	0	0	0	0	0
5	30	30	(30/5=) 6	(30/5=) 6	(30/5=) 6
15	60	60	(60/15=) 4	(60/15=) 4	(30/10=) 3
35	90	90	(90/35=) 2.57	(90/35=) 2.57	(30/20=) 1.5
45	120	120	(120/45=) 2.67	(120/45=) 2.67	(30/10=) 3
50	150	150	(150/50=) 3	(150/50=) 3	(30/5=) 6
52	180	180	(180/52=) 3.46	(180/52=) 3.46	(30/2=) 15