Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.) Output TC (£) AC (£) MC (£) 0 1 2 3 4 5 6 7 8 9 10 55 85 110 130 160 210 280 370 480 610 760 – 85 55 43.33 40 42 46.66 52.80 60 67.77 76 30 25 20 30 50 70 90 110 130 150 How much is total fixed cost at: (i) an output of 0? ................................................................................................................. (ii) an output of 6? ................................................................................................................. How much is average fixed cost at: (i) an output of 5? ................................................................................................................. (ii) an output of 10? ...............................................................................................................
- ) Complete the following table of costs for a firm. (Note: enter the figures in the MC column
between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
|
Output |
TC (£) |
AC (£) |
MC (£) |
|
0 1 2 3 4 5 6 7 8
9 10 |
55 85 110 130 160 210 280 370 480 610 760 |
– 85 55 43.33 40 42 46.66 52.80 60
67.77 76
|
30 25 20 30 50 70 90 110 130 150 |
- How much is total fixed cost at:
(i) an output of 0? .................................................................................................................
(ii) an output of 6? .................................................................................................................
- How much is average fixed cost at:
(i) an output of 5? .................................................................................................................
(ii) an output of 10? ...............................................................................................................
(d) How much is total variable cost at an output of 5? ..................................................................
(e) How much is
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
