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4. From your knowledge of the relationships among the various cost functions, com- plete the following table. Q TTC TFC TVC ATC AFC AVC MC

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4. From your knowledge of the relationships among the various cost functions, com- plete the following table. Q TTC TFC TVC ATC AFC AVC MC 125 10 5 20 10.50 30 40 255 50 60 1 1 50 1 1 70 80 295TABLE 8.5 SHORT-RUN COST FUNCTIONS -DEEP CREEK MINING COMPANY AVERAGE AVERAGE AVERAGE VARIABLE TOTAL FIXED VARIABLE TOTAL MARGINAL OUTPUT COST FIXED COST COST COST COST COST COST LABOR CAPITAL TFC INPUT TVC = TVC INPUT TFC = TTC =TFC AFC = TTC AVC = ATTC ATC = MC= Q L $50 . L K Q Q $150 + TVC Q AQ 0 $0 750 $150 $150 50 750 150 200 50 $25.00 $8.33 $33.33 - 58.33 16 2 100 750 50 150 250 9.38 6.25 15.63 = 5.00 10 29 3 150 750 50 150 300 5.17 5.17 10.34 - = 3.85 13 44 200 750 50 4 150 350 3.41 4.55 7.95 - 3.33 15 55 5 250 750 50 150 400 2.73 4.55 7.27 11 - 4.55 60 6 300 750 150 450 50 2.50 5.00 7.50 = 10.00 5 62 7 350 750 150 50 500 2.42 5.65 8.06 - 25.00 2

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