& End of Chapter 4.6 Question Help Matthew Rafferty produces hiking boots in the
ID: 1142309 • Letter: #
Question
& End of Chapter 4.6 Question Help Matthew Rafferty produces hiking boots in the perfectly competitive hiking boot market. The table contains information on Rafferty's total costs. Fill in the missing values for AFC, AVC, ATC, and MC in the table. (Enter your responses rounded to two decimal places) Output per Total Cost $400.00 500.00 580.00 640.00 AFC AVC ATC Mc $ 500,00 775.00 850.00 960.00 1080.00 1215.00 1400.00 213.33 176.25 155.00 141.67 137.14 135.00120 135.00 140.00 s 100 80 60 65 70 75 110 rces 135 185 n Tools 10 Enter your answer in the edit fields and then click Check Answer Clear All remainingExplanation / Answer
ANSWER:
AFC = FC / OUTPUT PER WEEK
AVC = (TC - FC) / OUTPUT PER WEEK
ATC = AFC + AVC
MC = CHANGE IN TC / CHANGE IN OUTPUT PER WEEK.
OUTPUT PER WEEK TOTAL COST AFC AVC ATC MC 0 400 - - - - 1 500 400 100 500 100 2 580 200 90 290 80 3 640 133.33 80 213.33 60 4 705 100 76.25 176.25 65 5 775 80 75 155 70 6 850 66.67 75 141.67 75 7 960 57.14 80 137.14 110 8 1080 50 85 135 120 9 1215 44.44 90.55 135 135 10 1400 40 100 140 185Related Questions
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