Complete the table below to test your understanding of total, average, and marginal cost. The marginal cost formula you should use is ATC/AQ. Note: This table is unrelated to the table in problem 1. Q FC TVC TC AVC ATC MC 1.00 100 200 2.00 3.00 300 900 400 4.50 500 2500 600 6.00 13.00 700 800 6600

Essentials of Economics (MindTap Course List)
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ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
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4. Fill in the Blanks: Total, Average, and Marginal Cost (14 points)
Complete the table below to test your understanding of total, average, and marginal cost.
The marginal cost formula you should use is ATC/AQ.
Note: This table is unrelated to the table in problem 1.
Q
FC
TVC
TC
AVC
ATC
MC
1.00
100
200
2.00
3.00
300
900
400
4.50
500
2500
600
6.00
13.00
700
800
6600
Transcribed Image Text:4. Fill in the Blanks: Total, Average, and Marginal Cost (14 points) Complete the table below to test your understanding of total, average, and marginal cost. The marginal cost formula you should use is ATC/AQ. Note: This table is unrelated to the table in problem 1. Q FC TVC TC AVC ATC MC 1.00 100 200 2.00 3.00 300 900 400 4.50 500 2500 600 6.00 13.00 700 800 6600
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