Micro Unit 3.2 CW: Cost Calculations (Number)
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Last updated 11 months ago
8 Nsɛmmisa
What is the TFC at 3 units of labor?
What is the TVC when the quantity output is zero?
What is our total cost when our average product is 40 units per laborer?
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 |
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| x | x | x | X |
1.00 | 40.00 | 40.00 | 30.00 |
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2.00 | 60.00 | 30.00 | 20.00 |
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3.00 | 70.00 | 23.33 | 10.00 |
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4.00 | 71.00 | 17.75 | 1.00 | 400.00 | 100.00 |
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5.00 | 60.00 | 12.00 | -11.00 |
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What is the average variable cost when marginal product is smallest but is still positive?
What is our average fixed cost with four units of variable input?
The marginal cost is equal to the average total cost at what quantity output?
What is the marginal cost of the fourth worker?
What is the marginal cost when output moves from 71 to 60 units?