Let F be the fixed cost of production, let VC be the variable cost of production, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the average variable cost, and AC, the average cost. Complete the following cost table. (Enter numeric responses rounded to two decimal places.) Output (q) MC AFC AVC VC AC $200 $16 28 $216 $16 12 $200.00 $16.00 $216.00 100.00 14.00 114.00 228 200 36 236 8. 66.67 12.00 4 200 40 4 50.00 10.00 60.00 200 48 248 40.00 49.60 6 200 260 12 33.33 10.00 43.33 200 76 276 28.57 10.86 39.43 200 96 296 20 12.00 37.00 200 200 120 148 22.22 24 13.33 35,56 320 10 28 14.80 20.00
Let F be the fixed cost of production, let VC be the variable cost of production, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the average variable cost, and AC, the average cost. Complete the following cost table. (Enter numeric responses rounded to two decimal places.) Output (q) MC AFC AVC VC AC $200 $16 28 $216 $16 12 $200.00 $16.00 $216.00 100.00 14.00 114.00 228 200 36 236 8. 66.67 12.00 4 200 40 4 50.00 10.00 60.00 200 48 248 40.00 49.60 6 200 260 12 33.33 10.00 43.33 200 76 276 28.57 10.86 39.43 200 96 296 20 12.00 37.00 200 200 120 148 22.22 24 13.33 35,56 320 10 28 14.80 20.00
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 7PA
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