Question

Total Product	Total Fixed Cost	Total Variable Cost	Total Cost	Average Fixed Cost	Average Variable Cost	Average Total Cost	Marginal Cost
0		0		∞		∞
1		35
2		65	145
3			170
4		110	190		27.50
5		140	220
6	80	185	265

Use the definitions for TFC, TVC, TC, AFC, AVC, ATC and SMC along with the data provided above to fill in the missing values. Use space below for worksheet.

∞ means infinitely large. Applicable relationships are:

SAC = AFC + AVC

  װ     װ        װ

STC   TFC      TVC

─── = ─── + ───

  Q      Q         Q

ΔTVC        ΔTC

    SMC =    ──── = ───

  ΔQ           ΔQ

Answer 1