Fill in the table Costs of Production of a Soap Manufacturer Bar of Soap (Quantity) Total Fixed Cost Total Variable Cost Total Cost Average Cost Average Fixed Cost Average Variable Cost Marginal Cost 100 1,000 1,500 2,500 25 10 15 200 1,000 2,000 3,000 15 5 10 500 300 1,000 2,500 3,500 11.67 3.33 8.33 500 400 1,000 3,000 4,000 10 2.50 7.50 500 500 1,000 3,500 4,500 9 2 7 500 600 1,000 4,000 5,000 8.33 1.67 6.67 500 700 1,000 5,000 6,000 8.57 1.43 7.14 1,000 800 1,000 6,000 7,000 8.75 1.25 7.50 1,000 900 1,000 7,000 8,000 8.89 1.11 7.78 1,000 1,000 1,000 9,000 10,000 10 1 9 2,000 Using the data in the table, graph and explain the following: a. Total cost b. Average cost, Average Variable cost and Average Fixed cost. c. Total cost and Marginal cost
Fill in the table Costs of Production of a Soap Manufacturer Bar of Soap (Quantity) Total Fixed Cost Total Variable Cost Total Cost Average Cost Average Fixed Cost Average Variable Cost Marginal Cost 100 1,000 1,500 2,500 25 10 15 200 1,000 2,000 3,000 15 5 10 500 300 1,000 2,500 3,500 11.67 3.33 8.33 500 400 1,000 3,000 4,000 10 2.50 7.50 500 500 1,000 3,500 4,500 9 2 7 500 600 1,000 4,000 5,000 8.33 1.67 6.67 500 700 1,000 5,000 6,000 8.57 1.43 7.14 1,000 800 1,000 6,000 7,000 8.75 1.25 7.50 1,000 900 1,000 7,000 8,000 8.89 1.11 7.78 1,000 1,000 1,000 9,000 10,000 10 1 9 2,000 Using the data in the table, graph and explain the following: a. Total cost b. Average cost, Average Variable cost and Average Fixed cost. c. Total cost and Marginal cost
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 3CQQ
Related questions
Question
- Fill in the table
|
Costs of Production of a Soap Manufacturer |
|||||||
|
Bar of Soap (Quantity) |
Total Fixed Cost |
Total Variable Cost |
Total Cost |
Average Cost |
Average Fixed Cost |
Average Variable Cost |
Marginal Cost |
|
100 |
1,000 |
1,500 |
2,500 |
25 |
10 |
15 |
|
|
200 |
1,000 |
2,000 |
3,000 |
15 |
5 |
10 |
500 |
|
300 |
1,000 |
2,500 |
3,500 |
11.67 |
3.33 |
8.33 |
500 |
|
400 |
1,000 |
3,000 |
4,000 |
10 |
2.50 |
7.50 |
500 |
|
500 |
1,000 |
3,500 |
4,500 |
9 |
2 |
7 |
500 |
|
600 |
1,000 |
4,000 |
5,000 |
8.33 |
1.67 |
6.67 |
500 |
|
700 |
1,000 |
5,000 |
6,000 |
8.57 |
1.43 |
7.14 |
1,000 |
|
800 |
1,000 |
6,000 |
7,000 |
8.75 |
1.25 |
7.50 |
1,000 |
|
900 |
1,000 |
7,000 |
8,000 |
8.89 |
1.11 |
7.78 |
1,000 |
|
1,000 |
1,000 |
9,000 |
10,000 |
10 |
1 |
9 |
2,000 |
Using the data in the table, graph and explain the following:
a. Total cost
b. Average cost, Average Variable cost and Average Fixed cost.
c. Total cost and Marginal cost
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