Question
Hello! Need help with the following homework problem. so far, I calculated TC. I need help with the last column, calculating MC. Don't know were
Hello!
Need help with the following homework problem. so far, I calculated TC. I need help with the last column, calculating MC. Don't know were to start. Thank you in advance!
This table has four columns which include Quantity (Q), Fixed Cost (FC), Variable Cost (VC), Total Cost (TC = FC + VC) and Marginal Cost (MC = Change in T times C divided by the change in Q. Under Column one (Quantity), there are 11 rows labeled 0 through 10. Under column two, the first row is $108. Under the third column (Variable Cost), the rows go in the following order: 0, 12, 48, 108, 192, 300, 432, 588, 768, 972, 1200). There is no information under Total Cost and Marginal Cost
Complete the following Table:
Quantity Q | Fixed Cost FC | Variable Cost VC | Total Cost TC = FC +VC | Marginal Cost MC= TC/Q |
0 | $108 | 0 | 108 | |
1 | 108 | 12 | 120 | |
2 | 108 | 48 | 156 | |
3 | 108 | 108 | 216 | |
4 | 108 | 192 | 300 | |
5 | 108 | 300 | 408 | |
6 | 108 | 432 | 540 | |
7 | 108 | 588 | 696 | |
8 | 108 | 768 | 876 | |
9 | 108 | 972 | 1,080 | |
10 | 108 | 1200 | 1,308 |
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