Question

Quantity Total Revenue Marginal Revenue Total Cost Marginal Cost Fixed Costs ATC Average Fixed Costs Average...

Quantity

Total Revenue

Marginal Revenue

Total Cost

Marginal Cost

Fixed Costs

ATC

Average Fixed Costs

Average Variable Costs

0

0

-

10

-

10

-

-

-

1

8

24

14

24

2

16

34

10

17

3

24

42

8

14

4

32

49

7

12.25

5

40

57

8

11.4

6

48

67

10

11.17

7

56

81

14

11.57

8

64

99

18

12.38

9

72

123

24

13.67

f. You have now removed the fixed costs from your decision making process. At the profit maximizing output level you chose in (b), what is the total variable cost?

Homework Answers

Answer #1
Q TR MR=Change in TR TC MC=change in TC FC=TC when Q=0 ATC=TC/Q AFC=FC/Q TVC=TC-FC AVC=TVC/Q
0 0 - 10 - 10 - - 0 -
1 8 8 24 14 10 24 10 14 14
2 16 8 34 10 10 17 5 24 12
3 24 8 42 8 10 14 3.33 32 10.67
4 32 8 49 7 10 12.25 2.5 39 9.75
5 40 8 57 8 10 11.4 2 47 9.4
6 48 8 67 10 10 11.17 1,67 57 9.5
7 56 8 81 14 10 11.57 1.43 71 10.14
8 64 8 99 18 10 12.38 1.25 89 11.12
9 72 8 123 24 10 13.67 1.11 113 12.55

If fixed are now removed from the decision making process ,then total variable cost is equal to the total cost.

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