Complete the following cost schedule by computing average fixed cost, average va

Question

Complete the following cost schedule by computing average fixed cost, average variable cost, marginal cost, and total cost

output     total cost     average fixed cost     average variable cost     Marrginal cost     average total cost

0             800              ----                             -----                                  ----                     ----

1             1000            [    ]                            [    ]                                 [    ]                       [    ]

2            1250            [    ]                            [    ]                                  [     ]                     [     ]

3            1550            [    ]                            [    ]                                  [    ]                      [    ]

4             2000           [    ]                            [    ]                                   [    ]                     [    ]

5             2500           [    ]                            [    ]                                   [    ]                      [    ]

Explanation / Answer

(b) Complete the following cost schedule by computing Average Total Cost and Marginal Cost:

Instructions: Enter your responses rounded to two decimal places.

Output Total Cost Average Fixed Cost Average Variable Cost 0 $800              1   1000        800 200 2 1250        400 225 3 1550        266.67 250 4 2000        200 300 5 2500        160 340

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