Suppose that your colleague has accidentally spilled coffee on his laptop and th

Question

Suppose that your colleague has accidentally spilled coffee on his laptop and the file containing your firm rsquo s cost data has been damaged. Use your knowledge of cost functions to save the day (and your friend rsquo s job) by determining the missing cost data. Round your answers to 2 digits after the decimal. What is the total cost when producing zero units? $__________________What is the marginal cost for the first unit? $__________________What is the average variable cost for the 4th unit? $__________________

Explanation / Answer

Q MC FC VC TC AFC AVC ATC 0 _ 50 0 50 _ _ _ 1 50 50 50 100 50 50 100 2 22 50 72 122 25 36 61 3 85 50 157 207 16.66667 52.33333 69 4 193 50 350 400 12.5 87.5 100

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