Output Total Variable Cost 0 $ 0 1 $ 50 2 $ 90 3 $120 4 $160 5 $220 6 $300 7 $40

Question

Output Total Variable Cost

0 $ 0

1 $ 50

2 $ 90

3 $120

4 $160

5 $220

6 $300

7 $400

8 $520

9 $670

10 $900

1) Given the above variable cost data and assuming fixed costs equal the value of the last three digits of your MDC student ID, create a file using Excel that lists Output, Fixed Cost, Variable Cost, Total Cost, Average Fixed Cost, Average Variable Cost, Average Total Cost, and Marginal Cost. The Excel table should be constructed using formulas wherever calculations were required.

2) Using Excel, plot FC, VC, and TC in Graph A and AFC, AVC, ATC, and MC in Graph B.

Explanation / Answer

total cost = fixed cost+variable cost average fixed cost = last three digits if ur id as it is the same in all cases avg variable costs = 50+90+120+160+220+300+400+520+670+900/10 = 343 avg total cost =avg fixed cost+avg variable cost marginal cost =change in total cost/change in quantity (calculate for each data)

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