Q1: Ave. variable cost from the table above, calculate the average fixed cost an

Question

Q1:

Ave. variable cost

from the table above, calculate the average fixed cost and average variable cost for each unit. you can copy the table and paste in the answer box

Q2: If you have worked or are working at a job, list five fixed costs of the firm. List three variable costs the firm has.

Q3: Think about your marginal product of labor. If you worked or have worked at a job, what were the factors that made you more productive? List 4. Did your co-workers make you more or less productive? list two reasons. If you have not worked, use being a student as your example.

units TFC TVC Ave Fixed Cost

Ave. variable cost

0 $100 $0 undefined undefined 1 50 2 80 3 110 4 150 5 200 6 270

Explanation / Answer

1.

2. I am working in a manufacturing plant.

Fixed costs:

Variable costs:

Units(Q) TFC($) TVC($) AFC($)=TFC/Q AVC($)=TVC/Q 0 100 0 1 100 50 100.00 50.00 2 100 80 50.00 40.00 3 100 110 33.33 36.67 4 100 150 25.00 37.50 5 100 200 20.00 40.00 6 100 270 16.67 45.00

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