51 A Complete The Following Cost Schedule By Computing Marginal Cost Average Fixed Cost Average Variable Cost And Av 3 (49.74 KiB) Viewed 29 times
51 a. Complete the following cost schedule by computing marginal cost, average fixed cost, average variable cost, and average total cost Instructions: Round your responses to the nearest whole number. Rate of Output 0 1 2 3 4 5 Total Cost $600 800 1,050 1,400 1,800 2,300 Marginal Cost Average Average Fixed Cost Variable Cost Average Total Cost b. Use the cost data to plot the average total cost (ATC) and marginal cost (MC) curves on a graph Instructions: Use the tools provided 'ATC' and 'MC' to draw each curve point by point (plot 5 points total for each curve). Round your points for ATC up to the nearest $25. Ⓡ
Output (units per day) c. At what output rate is average total cost minimized? units
Complete the following table: Instructions: Round your responses to two decimal places. Quantity Total Cost 0 1 2 3 4 5 $ 69 $ S $70.00 Marginal Cost 120.00 160.00 $ 210.00 $480.00 $50.00 40.00 $50.00 Average Variable Cost $50.00 $60.00 Average Total Cost $ $ S99 $ -- 120.00 $80.00 70.00 96.00
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