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Homework answers / question archive / Use the definitions for TFC, TVC, TC, AFC, AVC, ATC, and SMC along with the data provided below to fill in the missing values
Use the definitions for TFC, TVC, TC, AFC, AVC, ATC, and SMC along with the data provided below to fill in the missing values.
Short run cross puzzle
Total product | Total fixed cost | Total variable cost | Total cost | Average fixed cost | Average variable cost | Average total cost | Marginal cost |
0 | 60 | ∞∞ | 0 | ||||
45 | |||||||
1 | 60 | 105 | |||||
2 | 145 | 42.50 | |||||
35 | |||||||
3 | |||||||
4 | 150 | ||||||
5 | 190 | 50 | |||||
6 | 295 |
The table below shows all values filled in. The steps taken to fill in this table are:
TP | TFC | TVC | TC | AFC | AVC | ATC | MC |
---|---|---|---|---|---|---|---|
0 | 60 | 0 | 60 | - | - | - | - |
1 | 60 | 45 | 105 | 60 | 45 | 105 | 45 |
2 | 60 | 85 | 145 | 30 | 42.5 | 72.5 | 40 |
3 | 60 | 120 | 180 | 20 | 40 | 60 | 35 |
4 | 60 | 150 | 210 | 15 | 37.5 | 52.5 | 30 |
5 | 60 | 190 | 250 | 12 | 38 | 50 | 40 |
6 | 60 | 235 | 295 | 10 | 39.17 | 49.17 | 45 |