Question

**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 |

Answer #1

We have completed the table using the formulas:

TC = TFC+TVC

TC=ATC*Q, TFC=AFC*Q, TVC=AVC/*Q

ATC=AFC+AVC

MC=Change in TC/Change in Q = (TCn+1-TCn)/(Qn+1-Qn)

With the above values of ATC,AFC,AVC and MC, we can plot them as:

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

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 = 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...

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...

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

Suppose you are given the following information:
Price of variable input is $40/unit; Price of fixed input is
$50/unit
a. Using the above information, complete the followingtable
Units of Fixed Input
Units of Variable Input
Output
Marginal Product
TFC
TVC
AFC
AVC
ATC
MC
2
0
0
2
1
10
2
2
25
2
3
45
2
2
2
2
4
5
6
7
8
70
100
125
140
150
b. Draw graphs for AFC, AVC, ATC, and MC....

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,...

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...

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)...

(2) (a)Graph the following three short-run cost functions within
the 3 stages of production:Total Cost (TC), Variable Cost (VC),
Fixed Cost (FC).(b)Directly below the above, graph Marginal Cost
(MC), Average Cost (AC), Average Variable Cost (AVC), and Average
Fixed Cost (AFC).Which portion of rising MC is the firm’s
supply?

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