Details of this Paper

The following table shows data for the simple production

Description

solution


Question

5. The following table shows data for the simple;production function used in Question 1. Capital;costs this firm $20 per unit, and labor costs $10 per;worker.;K L TP TFC TVC TC AFC AVC ATC MC;10 0 0;10 1 5;10 2 15;10 3 30;10 4 50;10 5 75;10 6 85;10 7 90;10 8 92;a. From the information in the table, calculate;total fixed cost (TFC), total variable cost (TVC);total cost (TC), average fixed cost (AFC);average variable cost (AVC), average total cost;(ATC), and marginal cost (MC).

 

Paper#19225 | Written in 18-Jul-2015

Price : $32
SiteLock