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I completely forget how to do all of this, I could really appreciate any help I

ID: 1185764 • Letter: I

Question

I completely forget how to do all of this, I could really appreciate any help I could get from some of you especially with filling in the chart. Thank you so much!!


Aggregate Cost Data

Unit Cost Data

Q of Output

FC

VC

TC

Change in TC

AFC

AVC

ATC

MC

$0

$500

$0

$500

XX

XX

XX

XXX

---

---

---

---

$700

---

---

---

$7

100

500

700

1200

$5

$7

$12

---

---

---

---

600

---

---

---

6

200

500

1300

2.50

6.5

9

---

---

---

---

500

---

---

---

5

300

2300

1.67

6

---

---

---

---

---

---

---

7

400

2500

1.25

6.25

7.5

---

---

---

---

800

---

---

---

8

500

500

3300

3800

6.6

---

---

---

---

---

---

---

600

500

4300

4800

.83

7.17

8

---

---

---

---

---

---

---

12

700

5500

6000

.71

7.86

Complete the table.



2. How markets allocate resources. Derived demand is the change in demand due to a result initiated in another market. Market changes affects the demand for resources in related markets. For the following scenario, you are given a list of products. Draw a supply and demand graph illustrating the effect. Make sure to show the equilibrium price and quantity before and after the change.


Explanation / Answer

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