Use the following table and use your previous calculations:find the quantity where ATC is at a minimum and find the quantity that is the most efficient operating point for the firm. Total OutputTotal CostTFCTVCAFCAVCATCMC0$20 10$40 20$60 30$90 40$120 50$180 60$280 a.MC = ATC between 30 and 40 QuantityATC at minimum between 20 and 40 Quantity b.MC = ATC at 30 QuantityATC at minimum between 20 and 40 Quantity c.MC = ATC at 40 QuantityATC at minimum between 20 and 40 Quantity d.MC = ATC between 30 and 40 QuantityATC at minimum between30 and 40 Quantity e.MC = ATC between 20 and 40 QuantityATC at minimum between 20 and 40 Quantity

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Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter22: Supply: The Costs Of Doing Business

Section: Chapter Questions

Problem 4E

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Use the following table and use your previous calculations:

find the quantity where ATC is at a minimum and find the quantity that is the most efficient operating point for the firm.

Total Output	Total Cost	TFC	TVC	AFC	AVC	ATC	MC
0	$20
10	$40
20	$60
30	$90
40	$120
50	$180
60	$280

	a.	MC = ATC between 30 and 40 Quantity ATC at minimum between 20 and 40 Quantity
	b.	MC = ATC at 30 Quantity ATC at minimum between 20 and 40 Quantity
	c.	MC = ATC at 40 Quantity ATC at minimum between 20 and 40 Quantity
	d.	MC = ATC between 30 and 40 Quantity ATC at minimum between30 and 40 Quantity
	e.	MC = ATC between 20 and 40 Quantity ATC at minimum between 20 and 40 Quantity

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