Question: Using the table below, calculate total cost (TC), average fixed cost (AFC), average variable cost (AVC), and average total cost (ATC). What is the efficient

  1. Using the table below, calculate total cost (TC), average fixed cost (AFC), average variable cost (AVC), and average total cost (ATC). What is the efficient output level?
Visits TFC TVC TC AFC AVC ATC
0 $4,000 $0 $4,000 0 0 0
25 $4,000 $250 $4,250 160 10 170
50 $4,000 $500 $4,500 80 10 90
75 $4,000 $750 $4,750 53.3 10 63.3
100 $4,000 $1,000 $5,000 40 10 50
125 $4,000 $1,875 $5,875 32 15 47
150 $4,000 $3,150 $7,150 26.7 21 47.7

Total Cost= TC= TFC + TVC
Average Fixed Cost (AFC)= FC/Visits= ATC - AVC
Average Variable Cost (AVC)= Total Variable Cost / Visits
Average Total Cost (ATC) = TC/Visits = VC/Visits + FC/Visits

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