Asked by Jameka Hicks on May 29, 2024
Verified
Fill in this table.
Output Fixed Cost Variable Cost Total Cost Marginal Cost 0$6001$2002$3503$4504$6005$800\begin{array} { c c c c c } \text { Output } & \begin{array} { c } \text { Fixed } \\\text { Cost }\end{array} & \begin{array} { c } \text { Variable } \\\text { Cost }\end{array} & \begin{array} { c } \text { Total } \\\text { Cost }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Cost }\end{array} \\0 & \$ 600 & & & \\1 & & \$ 200 & & \\2 & & \$ 350 & & \\3 & & \$ 450 & & \\4 & & \$ 600 & & \\5 & & \$ 800 & &\end{array} Output 012345 Fixed Cost $600 Variable Cost $200$350$450$600$800 Total Cost Marginal Cost
Variable Cost
Expenses that change in proportion to the level of production or sales in a company.
Fixed Cost
A cost that does not change with an increase or decrease in the amount of goods or services produced or sold.
Marginal Cost
The financial increase incurred by adding one more unit to the production of a product or service.
- Determine the values of Average Total Cost (ATC), Average Variable Cost (AVC), and Marginal Cost (MC) based on the given information.
- Apply principles of cost analysis to fill in cost and output tables.
Verified Answer
ZK
Zybrea KnightJun 03, 2024
Final Answer :
Output Fixed Cost Variable Cost Total Cost Marginal Cost 0$6006001$200800200235095015034501,05010046001,20015058001,400200\begin{array} { c c r r c } \text { Output } & \begin{array} { c } \text { Fixed } \\\text { Cost }\end{array} & \begin{array} { c } \text { Variable } \\\text { Cost }\end{array} & \begin{array} { r } \text { Total } \\\text { Cost }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Cost }\end{array} \\0 & \$ 600 & & 600 & \\1 & & \$ 200 & 800 & 200 \\2 & & 350 & 950 & 150 \\3 & & 450 & 1,050 & 100 \\4 & & 600 & 1,200 & 150 \\5 & & 800 & 1,400 & 200\end{array} Output 012345 Fixed Cost $600 Variable Cost $200350450600800 Total Cost 6008009501,0501,2001,400 Marginal Cost 200150100150200
Output Fixed Cost Variable Cost Total Cost Marginal Cost 0$6006001$200800200235095015034501,05010046001,20015058001,400200\begin{array} { c c r r c } \text { Output } & \begin{array} { c } \text { Fixed } \\\text { Cost }\end{array} & \begin{array} { c } \text { Variable } \\\text { Cost }\end{array} & \begin{array} { r } \text { Total } \\\text { Cost }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Cost }\end{array} \\0 & \$ 600 & & 600 & \\1 & & \$ 200 & 800 & 200 \\2 & & 350 & 950 & 150 \\3 & & 450 & 1,050 & 100 \\4 & & 600 & 1,200 & 150 \\5 & & 800 & 1,400 & 200\end{array} Output 012345 Fixed Cost $600 Variable Cost $200350450600800 Total Cost 6008009501,0501,2001,400 Marginal Cost 200150100150200
Learning Objectives
- Determine the values of Average Total Cost (ATC), Average Variable Cost (AVC), and Marginal Cost (MC) based on the given information.
- Apply principles of cost analysis to fill in cost and output tables.
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