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note : i need answer done paper briefly with all calculations done its is important. 2.The table below shows a car manufacturer's total cost of
- note : i need answer done paper briefly with all calculations done its is important.
- 2.The table below shows a car manufacturer's total cost of producing cars. (9 points)
Q | TC (in thousands) | TVC | AVC | AFC | ATC | MC |
0 | $500 | |||||
1 | 540 | |||||
2 | 560 | |||||
3 | 570 | |||||
4 | 590 | |||||
5 | 620 | |||||
6 | 660 | |||||
7 | 720 | |||||
8 | 800 | |||||
9 | 920 | |||||
10 | 1,100 |
- What is this manufacturer's fixed cost?
- For each level of output, calculate the total variable cost (VC), average variable cost (AVC), the average total cost (ATC), the average fixed cost (AFC), and the marginal cost (MC).
- What is the efficient capacity? If there is any.
- In one diagram, draw the manufacturer's AVC, ATC, and MC curves.
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