From the following information on costs of production, calculate Total Fixed Cost, Total Variable Cost, Average...

From the following information on costs of production, calculate Total Fixed Cost, Total Variable Cost, Average Variable Cost, and Marginal Cost.

I also need to graph the total cost curves as well as the average and marginal cost curves.

TC = TFC + TVC so for Q=1 TC=30, assume TFC=20 so TVC=10 (20+10=30); continue with logic about
FC, it is independent of output, so it would be an incremental 20 with each additional level of output, TVC for each Q is calculated with simple math TVC=TC-20

Please help me complete the spreadsheet

Qty	Total Cost	Total Fixed Cost	Total Variable Cost	Average Variable Cost	Marginal Cost
1	30
2	75
3	150
4	255
5	380
6	525
7	688
8	840
9	1010
10	1200

Expert Solution

Table can be filled as follows:

Qty	Total Cost	Total Fixed Cost	Total Variable Cost = TC-TFC	Total Variable Cost	AVC = TVC/Q	Average Variable Cost	MC = TCQ -TC(Q-1)	Marginal Cost
1	30	20	=30-20	10	=10/1	10.00
2	75	20	=75-20	55	=55/2	27.50	=75-30	45
3	150	20	=150-20	130	=130/3	43.33	=150-75	75
4	255	20	=255-20	235	=235/4	58.75	=255-150	105
5	380	20	=380-20	360	=360/5	72.00	=380-255	125
6	525	20	525-20	505	=505/6	84.17	=525-380	145
7	688	20	=688-20	668	=668/7	95.43	=688-525	163
8	840	20	=840-20	820	=820/8	102.50	=840-688	152
9	1010	20	=1010-20	990	=990/9	110.00	=1010-840	170
10	1200	20	=1200-20	1180	=1180/10	118.00	=1200-1010	190

Graph is as follows:

Rahul Sunny answered 1 year ago

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