You are interested in starting your own business, but need to know your costs. H

Question

You are interested in starting your own business, but need to know your costs. Here is your information: What is your average fixed cost at 20 quantities? 10 5 2.5 2 What is your average variable cost at 10 quantities? 5.60 5.90 4.55 4.40 What is your average variable cost at 25 quantities? 5.60 5.90 4.55 4.40 What is your average total cost at 15 quantities? 8.27 10.90 6.40 7.05 What is your average total cost at 25 quantities? 8.27 10.90 6 40 7.05 What is your total revenue at 5 quantities? 39 B 76 111 144 What is your total revenue at 20 quantities? 39 76 111 144 What is your total profit at 0 quantities? 15 50 -15 -50 What is your total profit at 25 quantities? 15 0 -15 -50

Explanation / Answer

16.

Average fixed cost at 20 units = 50/20=2.5

17.

Average variable cost at 10 units = (109-50)/10=5.9

18.

Average variable cost at 25 units = (160-50)/25=4.4

19.

average total cost at 15=124/15=8.27

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