Answer to Question #99288 in Economics for trushang

Question #99288

Calculate the following:

Quantity Cost
25
26
27

Total Fixed Cost
10
10
10

Total Variable Cost
18
20
21

Total Cost
?
?
?

Average Cost
?
?
?

Marginal Cost
?
?
?

Expert's answer

Total cost: FC+VC, so 28; 30; 31

Average cost: TC/q, so 1.12; 1.15; 1.15

Marginal cost: (30-28)/(26-25)=2; 1

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