Complete the cost table to make it consistent with the given numbers. 0 TC TFC TVC ATC AFC AVC MC 0 20 1 1 2 3 4 3 4 12 5 75 6 7 8 16 24.85 86 9 360 10 540 Plot the total cost functions for the range of output 0-10 on one diagram, and the average and marginal cost functions on another diagram.

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter7: Economies Of Scale And Scope
Section: Chapter Questions
Problem 11MC
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Complete the cost table to make it consistent with the given numbers.
0
TC
TFC
TVC ATC AFC
AVC
MC
0
20
1
1
2
3
4
3
4
12
5
75
6
7
8
16
24.85
86
9
360
10
540
Plot the total cost functions for the range of output 0-10 on one diagram, and the
average and marginal cost functions on another diagram.
Transcribed Image Text:Complete the cost table to make it consistent with the given numbers. 0 TC TFC TVC ATC AFC AVC MC 0 20 1 1 2 3 4 3 4 12 5 75 6 7 8 16 24.85 86 9 360 10 540 Plot the total cost functions for the range of output 0-10 on one diagram, and the average and marginal cost functions on another diagram.
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