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Homework answers / question archive / A firm operates in the short run with total fixed costs of $8,000

A firm operates in the short run with total fixed costs of $8,000

Economics

A firm operates in the short run with total fixed costs of $8,000.00 and total variable costs (TVC) related to the quantity of output as shown below.

Q TVC ($)
0 0.00
1 7,500
2 13,500
3 17,500
4 21,000
5 25,000
6 29,500
7 35,000
8 42,500
9 50,500
10 62,200

A. Calculate the average variable cost when output is 4 units.

B. Calculate the average total cost when output is 6 units.

C. What is the marginal cost of the 9th unit of output?

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