Complete the following table (6 points): Quantity/Output TotalFixed Cost Average Fixed Cost TotalVariable Cost AverageVariable Cost Total Cost AverageTotal Cost Marginal Cost(units)(dollars)TC=FC+VC(dollars)AFC=FC/Q(dollars) (dollars)AVC=VC/Q(dollars)TC=FC+VC(dollars)ATC-TC/Q=AVC+AFC(dollars)MC=DTC/DC0$50 $0 $200 10$50 $20 $70 25$50 $40 $90 45$50 $60 $110 60$50 $80 $130 70$50 $100 $150

A cost function is an element of info costs and yield amount whose worth is the expense of making…

Answered: Complete the following table (6…

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter7: Economies Of Scale And Scope

Section: Chapter Questions

Problem 11MC

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Complete the following table (6 points):

Quantity/Output	Total Fixed Cost	Average Fixed Cost	Total Variable Cost	Average Variable Cost	Total Cost	Average Total Cost	Marginal Cost
(units)	(dollars) TC=FC+VC	(dollars) AFC=FC/Q	(dollars)	(dollars) AVC=VC/Q	(dollars) TC=FC+VC	(dollars) ATC-TC/Q=AVC+AFC	(dollars) MC=DTC/DC
0	$50		$0		$200
10	$50		$20		$70
25	$50		$40		$90
45	$50		$60		$110
60	$50		$80		$130
70	$50		$100		$150

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