(On costs ) Fill in the Table below (It's fun ) (See key below Table ) Round any values with decimal to one decimal place (3 points 0 10 points per correct cell) Q TC FC VC AC ATC AFC AVC MC 0 $80 10 $4 TC Q VC Q 20 $200 30 $240 40 50 $13 60 $20 TC Q VC Q Key Q output TC total cost VC variable cost FC fixed cost AC average total cost TC Q AFC average fixed cost FC Q AVC average variable cost VC Q MC marginal cost TC Q VC Q (so remember, Q from 0 to 10 10, from 10 to 20 10, etc ) (Hint see red Also, ask yourself, if Q 0, what is VC )

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Question: (On costs!) Fill in the Table below. (It's fun!) (See key below Table.) Round any values with decimal to one decimal place. (3 points; 0.10

(On costs!) Fill in the Table below. (It's fun!) (See key below Table.) Round any values with decimal to one decimal place. (3 points; 0.10 points per correct cell)

Q	TC	FC	VC	AC = ATC	AFC	AVC	MC
0	$80			______	_______	_______	_______
10							$4 = TC/Q = VC/Q
20	$200
30			$240
40
50				$13.60			$20 = TC/Q = VC/Q

Key: Q = output;TC = total cost; VC = variable cost; FC = fixed cost; AC = average total cost = TC/Q; AFC = average fixed cost = FC/Q;AVC = average variable cost = VC/Q; MC = marginal cost = TC/Q = VC/Q (so remember, Q from 0 to 10 =10, from 10 to 20 = 10, etc.) (Hint: see red!Also, ask yourself, if Q = 0, what is VC?)

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