Economics Question: TFC, TVC, TC, MC, AFC, AVC & ATC?
I was Given a table , With TFC TVC TC MC AFC AVC and ATC.
On output 0 , TFC is $500 , and the rest are blank
on output 10 , TFC is blank , TVC $1000 and the rest are Blank
On output 20 TFC is blank, TVC is blank , TC $2400
How do i find the answers in blanks? please help , I have ap econ and i need help!!!! thank you
- Anonymous1 decade agoFavorite Answer
OUTPUT TFC TVC TC MC
0 500 0 500 -----
10 500 1000 1500 1500-500=1000
20 500 1900 2400 2400-1500=900
at all levels of output, TFC is same i.e.$500
at zero level of output, there is no variable cost like cost of raw materials. so, TVC=0 and TFC=TC
TC=TFC+TVC by using it you can fill up the blanks
MC=TC of n units - TC of n-1 units
AFC=TFC/Q where Q=output
- Anonymous5 years ago
You are given the following information for units 0-4 that are produced by The Metro Corporation. The Total cost of unit 3 is 69. The Average variable cost of unit 3 is 15 and Marginal cost of unit 3 is 15. The Total fixed cost of all unit is 24, find out TC, AVC, MC for 4th unit. urgent
- 5 years ago
how do you find avc?