Details of this Paper

Economic Problem - Given the following chart and information fill in the missing values

Description

solution


Question

Question;a. Given the following chart and information fill in the missing values. Please write on a separate sheet.Output TFC TVC TC MC AFC AVC ATC0 $2,000 --50 100100 80150 60200 50250 60300 85350 125b. Please graph your results. Draw both the average and total cases making sure to explain these important relationships or trends in the curves:In the AVG Cost Curves:i) Shape of AVC as Q increaseii) AVC and ATC and Q increasesiii) U-shape of AVC and ATCIn Total Cost Curvesi) Shape of TFC, TVC/TCii) TC and TVC as Q increases (note: TC = TVC + TFC? this tells you something about distance between the two curves)c. In a typical LRAC curve like the illustration below, explain economies and diseconomies of scales as well as constant returns to scale. Make sure to use the graph and explain the concept.

 

Paper#56319 | Written in 18-Jul-2015

Price : $25
SiteLock