Question: please give me correct answer 4. The following table shows a car manufacturer's total cost of producing cars: (04 marks) Quantity of Car Total Cost

please give me correct answer

4. The following table shows a car manufacturer's total cost of producing cars: (04 marks) Quantity of Car Total Cost 450, 000 500, 000 550, 000 600, 000 4 650, 000 3 700, 000 6 750, 000 800, 000 850, 000 9 900, 000 950,000 i. What is this manufacturer's fixed cost? For each level of output (except zero output), calculate the variable cost (VC). ii. Calculate the average variable cost (AVC), average total cost (ATC), and average fixed cost (AFC). What is the minimum-cost output? iii. For each level of output, calculate this manufacturer's marginal cost (MC). iv. On one diagram, draw the manufacturer's AVC, ATC, and MC curves
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
