Question
Please help me solve this: 5. Use the table below to answer the next 3 questions . Total product TFC AFC TVC AVC TC MC
Please help me solve this: 5. Use the table below to answer the next 3 questions.
| Total product | TFC | AFC | TVC | AVC | TC | MC |
| 0 | $_____ | $_____ | $_____ | $_____ | ||
| 1 | _____ | $_____ | _____ | $12 | _____ | _____ |
| 2 | _____ | 12 | _____ | 10 | _____ | _____ |
| 3 | _____ | _____ | _____ | 12 | _____ | _____ |
| 4 | _____ | _____ | _____ | 14 | _____ | _____ |
a.Total fixed cost (TFC) is ______.
b.The marginal cost (MC) of producing the 5th unit of output is ____.
c.The average variable cost (AVC) of producing 3 units of output is _____.
thank you
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael H. Granof, Saleha B. Khumawala
6th edition
978-1-119-4958, 9781118473047, 1118155971, 1118473043, 978-1118155974
