The price of the commodity is P4/unit. Complete the table below. QDemandSupplyTRTFCTVCTCAVCAFCACMRMCProfit0100001000100 44-1001090104010040140410144 -10020802080100 1552.7557.75 30703012010067 406040160100771771.925 4.425 505050 10086186 604060240100 1931.55 3.216667 703070 100113213 802080320100143 1.78751.253.0375 901090360100 283 10771000100400100283 2.83 3.8343.83174. Graph the ATC, MC, MR, AVC & MC5. Provide a brief explanation on the graph no. 4

Q Demand Supply TR TFC TVC TC AVC AFC AC MR MC Profit 0 100 0 0 100 0 100 4 4 -100 10 90…

Answered: Graph the ATC, MC, MR, AVC & MC 5.…

Business

Economics

Graph the ATC, MC, MR, AVC & MC 5. Provide a brief explanation on the graph no. 4

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter5: Buying The Necessities

Section: Chapter Questions

Problem 20AA

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Question

The price of the commodity is P4/unit. Complete the table below.

Q	Demand	Supply	TR	TFC	TVC	TC	AVC	AFC	AC	MR	MC	Profit
0	100	0	0	100	0	100				4	4	-100
10	90	10	40	100	40	140	4	10	14	4		-100
20	80	20	80	100		155	2.75	5	7.75
30	70	30	120	100	67
40	60	40	160	100	77	177	1.925		4.425
50	50	50		100	86	186
60	40	60	240	100		193	1.55		3.216667
70	30	70		100	113	213
80	20	80	320	100	143		1.7875	1.25	3.0375
90	10	90	360	100		283					10	77
100	0	100	400	100	283		2.83		3.83	4	3.83	17

4. Graph the ATC, MC, MR, AVC & MC
5. Provide a brief explanation on the graph no. 4

Definition Definition Measure of the cost of production per unit of output, including only variable costs such as wages, materials, and utilities. AVC is calculated by dividing total variable cost by the number of units produced. Understanding average variable cost is important for businesses to make decisions on pricing, production levels, and profitability.

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