Question

Complete the following table accurately. [5 Marks]      Draw the TFC, AFC and AVC in one graph...

  1. Complete the following table accurately.
  2. [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
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Answer #1
Q TVC TFC TC AC MC ATC AFC AVC
0 0 100 100 - - - - -
1 20 100 120 120 20 120 100 20
2 38 100 138 69 18 69 50 19
3 51 100 151 5.33 13 50.33 33.33 17
4 62 100 162 4.5 11 40.5 25 15.5
5 75 100 175 35 13 35 20 15
6 90 100 190 31.66 15 31.66 16.1 15
TFC is fixed cost is same for all the units=100

TC=TVC+TFC

AC=TC/Q

AVC=TVC/Q

AFC=TFC/Q

ATC=TC/Q

MCn= TCn - TCn-1

MC, marginal cost is the change in total cost when a additional unit od output is produced .
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