Question

WU TUe! This shows what is correct or incorrect for the work you have Table below gives data for a firm named Crystal Clear Speech Writing Services. Fill in the blanke answers to the nearest whole number. Output APC ATC T MC TVC AVC 50 $ 50 N G on O

Answer 1

Output or Q	Total Fixed cost (TFC) in $= AFC x Q =$200	Average Fixed cost (AFC) in $ = TFC / Q	Average variable cost (AVC) in $ = TVC / Q	Total Variable Cost (TVC) in $ = AVC x Q   and TVC=TC-TFC	Average total cost (ATC) in $ =AFC + AVC	Marginal cost (MC) in $ = change in total cost (TC )/ change in output (Q)	Total cost (TC) in $ = TFC + TVC
1	200	200	50	50	250	50	250
2	200	100	40	80	140	30	280
3	200	67	33	100	100	20	300
4	200	50	33	130	83	30	330
5	200	40	42	210	82	80	410
6	200	33	65	390	98	180	590
7	200	29	70	490	99	100	690
8	200	25	81	650	106	160	850
Total Fixed cost is independent of output or product so it remains constant at $200
TC = TFC + TVC so TVC=TC-TFC
Marginal cost (MC) in $ = change in TC / change in output (Q) = Change in TVC/Change in output (Q)