complete the table below:
Output |
Total Cost |
Variable Cost | FIxed Cost | Marginal Cost |
0 | 50 | |||
1 | 60 | |||
2 | 75 | |||
3 | 100 | |||
4 | 150 | |||
5 | 225 | |||
6 | 400 |
FC=the cost is same at all level, and it is equal to the total
cost at Q=0
FC=$50, it is the same at all level of output
VC=TC-FC
VC(1)=60-50=10
VC(2)=75-50=25
VC(3)=100-50 =50 and so on
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The marginal cost of n th unit =total cost of n units - total cost of n-1 units
MC(1)=60-50=10
MC(2)=75-60=15
MC(3)=100-75=25 and so on
Output | Total Cost | Variable Cost | Fixed Cost | Marginal Cost |
0 | 50 | 0 | 50 | |
1 | 60 | 10 | 50 | 10 |
2 | 75 | 25 | 50 | 15 |
3 | 100 | 50 | 50 | 25 |
4 | 150 | 100 | 50 | 50 |
5 | 225 | 175 | 50 | 75 |
6 | 400 | 350 | 50 | 175 |
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