Question

In: Economics

quantity of broomsticks fixed cost variable cost total cost average fixed cost average variable cost average...

quantity of broomsticks fixed cost variable cost total cost average fixed cost average variable cost average total cost marginal cost marginal product
0
10 $13 $38
22 $28
32 $70
41 $64
50 $110
59 $108
65 $133
70 $185

how do I fill in the blanks?

as well as graph the three average cost curves and the marginal cost curve.

Solutions

Expert Solution

Q FC VC(TC-FC) TC(FC+VC) AFC(FC/Q) AVC(VC/Q) ATC(TC/Q) MC(Change in TC/change in Q) MP(Change in TP)
0 25 25
10 25 13 38 2.5 1.3 3.8 1.3 10
22 25 28 53 1.136364 1.272727 2.409091 1.25 12
32 25 45 70 0.78125 1.40625 2.1875 1.7 10
41 25 64 89 0.609756 1.560976 2.170732 2.111111 9
50 25 85 110 0.5 1.7 2.2 2.333333 9
59 25 108 133 0.423729 1.830508 2.254237 2.555556 9
65 25 133 158 0.384615 2.046154 2.430769 4.166667 6
70 25 160 185 0.357143 2.285714 2.642857 5.4 5


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