Question: Using the data from the two other tables (from Q2 and Q4), calculate Total Cost (TC), Average Cost (AC) and Marginal Cost (MC) and complete

Using the data from the two other tables (from Q2 and Q4), calculate Total Cost (TC), Average Cost (AC) and Marginal Cost (MC) and complete the table below.

Note: TC = TFC + TVC

Q3)

Quantity (Q) in hecalitres TC in 000 $ AC in 000 $ MC in 000 $
0 24 - -
1 33 33
2 40 20
3 51 17
4
5
6

Table Q2)

Quantity (Q) in hecalitres TFC in 000 $ AFC in 000 $ MFC in 000 $
0 24 - -
1 24 24 0
2 24 12 0
3 - - -
4 - - -
5 - - -
6 - - -

Table Q4)

Quantity (Q) in hecalitres TVC in 000 $ AVC in 000 $ MVC in 000 $
0 0 - -
1 9 9 -
2 16 8 -
3 27 9 -
4 - - -
5 - - -
6 - - -

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