- Can someone help me with some of these questions, so I can understand them. Us
ID: 1223994 • Letter: #
Question
- Can someone help me with some of these questions, so I can understand them.
Use the above table and assume a fixed cost of $200.At an output of 4, ATC is $200. $225. $250. $400. Use the above table and assume a fixed cost of $1000.At an output of 4, ATC is $250. $400. $600. $800. Use the above table and assume a fixed cost of $200.At an output of 4, AFC is $50. $100. $200. $400. Use the above table and assume a fixed cost of $200At an output of 3, AVC is $133. $167. $200. Use the above table and assume a fixed cost of S1000At an output of 3, AVC is $250. $300. $333. $400. Use the above table and assume a fixed cost of $1000At an output of 1, marginal cost is 0. $200. $300. $400. Using the above graph, the AFC curve is J. K. L. M.Explanation / Answer
1.
Table
Output (O)
Variable cost (V)
Fixed cost (F)
Total cost (TC) = V + F
AVC = V / O
ATC = TC / O
Marginal cost = difference in TC
1
200
200
400
200
400
400
2
300
200
500
150
250
100
3
500
200
700
166.67
233.33
200
4
800
200
1,000
200
250
300
At an output 4, an ATC is $250 as per the above table.
Answer: $250
Output (O)
Variable cost (V)
Fixed cost (F)
Total cost (TC) = V + F
AVC = V / O
ATC = TC / O
Marginal cost = difference in TC
1
200
200
400
200
400
400
2
300
200
500
150
250
100
3
500
200
700
166.67
233.33
200
4
800
200
1,000
200
250
300
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