Making and graphing cost calculations
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Total Output Cost TFC TVC AFC AVC ATC MC
0 $20
10 $40
20 $60
30 $90
40 $120
50 $180
60 280
1. Use the above table to answer the questions listed below.
a. Calculate the total fixed costs, total variable costs, average fixed costs, average variable costs, average total costs, and marginal costs.
b. Plot each of the cost curves.
c. At what quantity of output does marginal cost equal average total cost and average variable cost?
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Solution Summary
Given a firm's total costs at each various levels of production, this solution shows how to use a spreadsheet to calculate and graph its component costs.
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