Answer to Question #300646 in Microeconomics for Abel

Question

By using the knowledge of relationships among the various costs of production concepts fill the blank space of the following table. 

Quantity TC TFC TVC ATC AVC MC

0 125

10 5

20 105

30 110

40 255

50 3

60 3

Answer 1

Output 0 10 20 30 40 50 60 70

FC 125 125 125 125 125 125 125

$TFC=875$

VC 0 -120 -10 -15 130 -120 -122

$TVC=-257$

TC 125 5 105 110 255 3 3

AVC -0.5714 -0.0476 -0.074 0.6190 -0.5810 -0.5810

AFC 0.5952 0.5952 0.5952 0.5052 0.5952 0.5952

ATC 0.5952 0.0238 0.5476 0.5238 1.2142 0.0142 0,0142

MC _ -12 10 0.5 14.5 -25.2 -25.2

Where; $TC=FC+VC$

              $ATC=AVC+AFC$

$AVC=\frac{ variable cost}{TP}$

$AFC=\frac{fixed cost}{TP}$

$TP=210$