Question
The table below shows the information on output and cost for a firm [NO 7] Output (unit) Fixed cost (RM) Variable cost (RM) Total cost
The table below shows the information on output and cost for a firm [NO 7]
Output (unit) | Fixed cost (RM) | Variable cost (RM) | Total cost (RM) | Marginal cost (RM) | Average variable cost (RM) | Average total cost (RM) |
0 | 600 | 1) | 600 | |||
10 | 600 | 2) | 1050 | 12) | 22) | 32) |
20 | 600 | 3) | 1450 | 13) | 23) | 33) |
30 | 600 | 4) | 1800 | 14) | 24) | 34) |
40 | 600 | 5) | 2100 | 15) | 25) | 35) |
50 | 600 | 6) | 2450 | 16) | 26) | 36) |
60 | 600 | 7) | 2850 | 17) | 27) | 37) |
70 | 600 | 8) | 3300 | 18) | 28) | 38) |
80 | 600 | 9) | 3850 | 19) | 29) | 39) |
90 | 600 | 10 | 4500 | 20) | 30) | 40) |
100 | 600 | 11) | 5250 | 21) | 31) | 41) |
Provide your answer up to two decimal places.
(20 marks)
Complete the table above by calculating the variable cost, marginal cost, average variable cost and average total cost.
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