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Micro Unit 3.2 CW: Cost Calculations (Number)

Last updated 10 months ago

8 Nsɛmmisa

1

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1.

What is the TFC at 3 units of labor?

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2.

What is the TVC when the quantity output is zero?

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3.

What is our total cost when our average product is 40 units per laborer?

1

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4.

What is the average variable cost when marginal product is smallest but is still positive?

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Labor is variable. Capital is fixed. The firm is producing brownies. This is a perfectly competitive firm.

Labor	TP	AP	MP	TVC	TFC	TC	AVC	AFC	ATC	MC
0.00	0.00	X	X				x	x	x	X
1.00	40.00	40.00	30.00
2.00	60.00	30.00	20.00
3.00	70.00	23.33	10.00
4.00	71.00	17.75	1.00	400.00	100.00
5.00	60.00	12.00	-11.00

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5.

What is our average fixed cost with four units of variable input?

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6.

The marginal cost is equal to the average total cost at what quantity output?

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7.

What is the marginal cost of the fourth worker?

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8.

What is the marginal cost when output moves from 71 to 60 units?