Question: The following table shows the total fixed and variable costs of a firm. Complete the table. Round your answers to two decimal places. Use the

 The following table shows the total fixed and variable costs of

The following table shows the total fixed and variable costs of a firm. Complete the table. Round your answers to two decimal places. Use the TC/Q method. Output TFC ($) TVC ( $) TC ($) AFC ($) AVC ($) ATC ($) MC ( $ ) 1 800 310 1110 800 310 1110 1110 2 800 550 1350 400 275 675 240 3 800 780 1580 266.66 260 526.6 230 800 1, 000 1800 200 250 450 220 800 1, 800 2600 160 360 520 800 800 3 , 500 4300 133.3 583.3 716.6 1700 800 5 , 350 6150 114.2 764.2 878.5 1850

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!