Question
The cost table below has enough information for you to completely fill out the 26 blank cells in the five rows (associated with output of
The cost table below has enough information for you to completely fill out the 26 blank cells in the five rows (associated with output of Q=0, 1, 2, 3, 4). Here is a hint: at Q=4 you are told that AFC is $27. Since AFC=FC/Q and thus FC=AFCQ, you know that FC must be $274=$108. And, of course, FC is the same for all output levels, including zero. Now you have the first column completed!
Please fill in the blanks based on the information given.
| Q | FC | VC | TC | MC | AFC | AVC | ATC |
| 0 | |||||||
| 1 | 18 | ||||||
| 2 | 14 | ||||||
| 3 | 159 | ||||||
| 4 | 25 | 27 |
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
