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Given the below table: Q FC VC TC AFC AVC ATC MC 0 120 1 180...

  1. Given the below table:

Q

FC

VC

TC

AFC

AVC

ATC

MC

0

120

1

180

2

220

3

270

4

360

5

470

6

600

  1. Complete the table.
  2. Draw the diagram with the curves of TC, VC and FC.
  3. Draw the diagram of the curves of ATC, AVC and AFC.
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Homework Answers

Answer #1

a)

FC=120

VC=TC-FC

AFC=FC/Q

AVC=VC/Q

ATC=TC/Q

MC=change in TC/change in Q

Q FC VC TC AFC AVC ATC MC
0 120 0 120
1 120 60 180 120 60 180 60
2 120 100 220 60 50 110 40
3 120 150 270 40 50 90 50
4 120 240 360 30 60 90 90
5 120 350 470 24 70 94 110
6 120 480 600 20 80 100 130

b)

FC II 1 2 3 5 6

c)

AFC +-AVC ATC + 0 1 1 2 3 4 5 6 7

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