Douglas Fur is a small manufacturer of fake-fur boots in Houston. The following table shows the company's total cost of production at various production quantities.

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
icon
Related questions
Question
100%
How do I solve this chart
JEV8/Ikdexhtml?deploymentld=58830023220612202193347127562&elSBN=9781337622349&id=908491103&snapshotld=1937530&
CENGAGE MINDTAP
Homework (Ch 07)
Attempts:
Average: /2
3. Short-run cost formulas
Douglas Fur is a small manufacturer of fake-fur boots in Houston. The following table shows the company's total cost of production at various
production quantities.
Fill in the remaining cells of the table.
Total Product
Total Cost
Marginal Cost
(Dollars)
Total Fixed Cost
Total Variable Cost
Average Variable Cost
(Dollars per pair)
Average Total Cost
(Dollars per pair)
(Pairs)
(Dollars)
(Dollars)
(Dollars)
60
160
220
3.
270
es of
4.
340
450
630
On the following graph, plot Douglas Fur's average total cost curve (ATC) using the green points (triangle symbol). Next, plot its average variable
cost curve (AVC) using the purple points (diamond symbol). Finally, plot its marginal cost curve (MC) using the orange points (square symbol).
(Hint: For ATC and AVC, plot the points on the integer: For example, the average total cost of producing one pair of boots is $160, so you should
start your average total cost curve by placing a green point at (1, 160). For marginal cost, plot the points between the integers: For example, the
marginal cost of increasing production from zero to one pair of boots is $100, so you should start your marginal cost curve by placing an orange
square at (0.5, 100).)
*
5 do
tho pl
DDI
delete
home
%23
4
8
num
lock
backspace
R.
Y
G
K
enter
prt sc
N
↑ shift
AMAAAA
B.
Transcribed Image Text:JEV8/Ikdexhtml?deploymentld=58830023220612202193347127562&elSBN=9781337622349&id=908491103&snapshotld=1937530& CENGAGE MINDTAP Homework (Ch 07) Attempts: Average: /2 3. Short-run cost formulas Douglas Fur is a small manufacturer of fake-fur boots in Houston. The following table shows the company's total cost of production at various production quantities. Fill in the remaining cells of the table. Total Product Total Cost Marginal Cost (Dollars) Total Fixed Cost Total Variable Cost Average Variable Cost (Dollars per pair) Average Total Cost (Dollars per pair) (Pairs) (Dollars) (Dollars) (Dollars) 60 160 220 3. 270 es of 4. 340 450 630 On the following graph, plot Douglas Fur's average total cost curve (ATC) using the green points (triangle symbol). Next, plot its average variable cost curve (AVC) using the purple points (diamond symbol). Finally, plot its marginal cost curve (MC) using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer: For example, the average total cost of producing one pair of boots is $160, so you should start your average total cost curve by placing a green point at (1, 160). For marginal cost, plot the points between the integers: For example, the marginal cost of increasing production from zero to one pair of boots is $100, so you should start your marginal cost curve by placing an orange square at (0.5, 100).) * 5 do tho pl DDI delete home %23 4 8 num lock backspace R. Y G K enter prt sc N ↑ shift AMAAAA B.
* MindTap - Cengage Learning
x +
Link to Book and Mindtap
Canvas | Canvas
ng.cengage.com/static/nb/ui/evo/index.html?deploymentld=58830023220612202193347127562&elSBN=9781337622349&id%3908491103&snapshotld=1937530&
CENGAGE MINDTAP
Shawnta v
My Home
Homework (Ch 07)
---s
60
2 Courses
1
160
O Catalog and Study Tools
220
3
270
* Partner Offers
4
340
450
O Rental Options
6.
630
* College Success Tips
e Career Success Tips
On the following graph, plot Douglas Fur's average total cost curve (ATC) using the green points (triangle symbol). Next, plot its average variable
cost curve (AVC) using the purple points (diamond symbol). Finally, plot its marginal cost curve (MC) using the orange points (square symbol).
(Hint: For ATC and AVC, plot the points on the integer: For example, the average total cost of producing one pair of boots is $160, so you should
start your average total cost curve by placing a green point at (1, 160). For marginal cost, plot the points between the integers: For example, the
marginal cost of increasing production from zero to one pair of boots is $100, so you should start your marginal cost curve by placing an orange
RECOMMENDED FOR YOU
Study Tools
square at (0.5, 100).)
Study Tools for Principles of
Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
Economics
O Help
O Give Feedback
200
175
ATÇ
150
125
AVC
P Search
707
11/19/2
BANG
%23
3.
pes
%24
4
detete
&
home
end
6.
8
9
backspace
num
lock
E
R
T.
Y
D
home
G
J
K
enter
4
5
prt sc
t shift
1
alt
end
alt
ins
USE YOUR SMARTP
AAAAAA
Transcribed Image Text:* MindTap - Cengage Learning x + Link to Book and Mindtap Canvas | Canvas ng.cengage.com/static/nb/ui/evo/index.html?deploymentld=58830023220612202193347127562&elSBN=9781337622349&id%3908491103&snapshotld=1937530& CENGAGE MINDTAP Shawnta v My Home Homework (Ch 07) ---s 60 2 Courses 1 160 O Catalog and Study Tools 220 3 270 * Partner Offers 4 340 450 O Rental Options 6. 630 * College Success Tips e Career Success Tips On the following graph, plot Douglas Fur's average total cost curve (ATC) using the green points (triangle symbol). Next, plot its average variable cost curve (AVC) using the purple points (diamond symbol). Finally, plot its marginal cost curve (MC) using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer: For example, the average total cost of producing one pair of boots is $160, so you should start your average total cost curve by placing a green point at (1, 160). For marginal cost, plot the points between the integers: For example, the marginal cost of increasing production from zero to one pair of boots is $100, so you should start your marginal cost curve by placing an orange RECOMMENDED FOR YOU Study Tools square at (0.5, 100).) Study Tools for Principles of Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. Economics O Help O Give Feedback 200 175 ATÇ 150 125 AVC P Search 707 11/19/2 BANG %23 3. pes %24 4 detete & home end 6. 8 9 backspace num lock E R T. Y D home G J K enter 4 5 prt sc t shift 1 alt end alt ins USE YOUR SMARTP AAAAAA
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 6 images

Blurred answer
Knowledge Booster
Correlation Coefficient
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Micro Economics For Today
Micro Economics For Today
Economics
ISBN:
9781337613064
Author:
Tucker, Irvin B.
Publisher:
Cengage,