Output Total Cost Marginal Average Average Average (TC) Cost (MC) Fixed Cost Variable Total Cost (AFC) Cost (AVC) (AC) 200 1 250 A 200 50 250 2 320 70 B 60 D 100 66.7 140 3.

Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter8: Production And Costs
Section8.4: Costs Of Production: Total, Average, Marginal
Problem 1ST
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Question

The table below reflects the short run costs of production of a manufacturer of stationery.
Complete the table by writing out the letters A to E in your answer book along with the correctly
calculated cost applicable to each letter

Output
Total Cost
Marginal
Average
Average
Average
(TC)
Cost (MC)
Fixed Cost
Variable
Total Cost
(AFC)
Cost (AVC)
(AC)
200
1
250
A
200
50
250
320
70
В
60
100
66.7
140
3.
Transcribed Image Text:Output Total Cost Marginal Average Average Average (TC) Cost (MC) Fixed Cost Variable Total Cost (AFC) Cost (AVC) (AC) 200 1 250 A 200 50 250 320 70 В 60 100 66.7 140 3.
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