f production, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the averecimal places.)Output (q)VCCMCAFCAVCAC1$100$64112$164$6448$100.00 $64.00 $164.0050.00 56 00 106.0021002123.1001442443233.3348.004.1001601625.0040.0065.00100192292-3220.0058 409.1003404816.6740.0056.677.100-30440414.29 434357.71100-3844848048.0060.5053.3359.209.1004805809611.1164.441010059211210.00F.

The given table is completed as follows:

roduction, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the av mal places.) Output (q) VC MC AFC AVC AC $100 $64 $164 $64 $100.00 $64.00 $164.00 100 112 212 48 50.00 56.00 106.00 3 100 144 244 32 33.33 48.00 4 100 160 16 25.00 40.00 65.00 100 192 292 32 20.00 58.40 6. 100 340 48 16.67 40.00 56.67 100 304 404 14.29 43.43 57.71 8. 100 384 484 80 48.00 60.50 9. 100 480 580 96 11.11 53.33 64.44 10 100 592 112 10.00 59.20

roduction, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the av mal places.) Output (q) VC MC AFC AVC AC $100 $64 $164 $64 $100.00 $64.00 $164.00 100 112 212 48 50.00 56.00 106.00 3 100 144 244 32 33.33 48.00 4 100 160 16 25.00 40.00 65.00 100 192 292 32 20.00 58.40 6. 100 340 48 16.67 40.00 56.67 100 304 404 14.29 43.43 57.71 8. 100 384 484 80 48.00 60.50 9. 100 480 580 96 11.11 53.33 64.44 10 100 592 112 10.00 59.20

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 32CTQ: How does fixed cost affect marginal cost? Why is this relationship important?

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