Question
Directions:For each of the following problems you should use EXCEL to calculate the various measures of costs.There are supplemental instructions for each problem.For your final
Directions:For each of the following problems you should use EXCEL to calculate the various measures of costs.There are supplemental instructions for each problem.For your final copy to turn in you should make sure that each problem is numbered and that headings are provided for each column of numbers.You should also provide headings for each problem and graph and other appropriate documentation.Round all numbers to two decimal points.
1.You are given the following total cost function for a firm:
TC = (25+F) + L Q + 0.5 (Q2)
where F=the number of the letter of the alphabet corresponding to the initial of your first name, and L=number of the letter of the alphabet corresponding to the initial of your last name.For example, if your name were Bill Weber, F=2 and L=23, so
TC = 27 + 23 Q + 0.5 Q2.
a.Calculate TC, TFC, and TVC for the levels of output between Q=0 and Q=30 (i.e., Q=0, Q=1, Q=2, Q=3,..., Q=29, Q=30).Make a graph of TC, TFC, and TVC as a function of Q.(Use an xy graph, connect the points, and make sure these three curves are all on the same graph.)
b.Calculate ATC, AFC, AVC, and MC as a function of Q and produce a graph of the ATC, AFC, AVC, and MC curves as a function of Q. (Again, use xy graph, connect the points, and make sure these curves are all on the same graph.Also, since ATC, AFC, AVC, and MC are not defined at Q=0, start your graph using Q=1, not Q=0.)
plz show by excel step by step in 3 hours, plz do not provide writing by hand. Thank you very much.
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