i did this chart i need someone to look and tell me if i have it correct if not
ID: 1233516 • Letter: I
Question
i did this chart i need someone to look and tell me if i have it correct if not can you tell me what is wrongThank you
Consider the following table of costs for the Winsome Widget Factory, which operates in a perfectly competitive market. The market price faced by this firm is $6.00 per widget.
Output
0
10
20
30
40
50
60
70
80
90
100
Total Fixed Cost
100
100
100
100
100
100
100
100
100
100
100
Total Variable Cost
0
50
80
100
140
200
275
375
500
650
900
Total Cost
$100
150
180
200
240
300
375
475
600
750
1,000
Average Fixed Cost
n/a
10
5
3.33
2.5
2
1.67
1.43
1.25
1.11
1
Average Variable Cost
n/a
5
4
3.33
3.5
4
4.58
5.36
6.25
7.22
9
Average Total Cost
n/a
5
4
3.33
3.5
4
4.58
5.36
6.25
7.22
9
Marginal Cost
n/a
50
30
20
40
60
75
100
125
150
250
Total Revenue
0
60
120
180
240
300
360
420
480
540
600
Marginal Revenue
n/a
60
60
60
60
60
60
60
60
60
60
Total Profit
-100
-90
-60
-20
0
0
-15
-55
-120
-210
-400
T Fixed Cost
100
100
100
100
100
100
100
100
100
100
100
Variable cost
50
80
100
140
200
275
375
500
650
900
AFC
n/a
10
5
3.33
2.5
2
1.67
1.43
1.25
1.11
1
AVC
n/a
5
4
3.33
3.5
4
4.58
5.36
6.25
7.22
9
AVC
n/a
5
4
3.33
3.5
4
4.58
5.36
6.25
7.22
9
MC
n/a
50
30
20
40
60
75
100
125
150
250
TR
0
60
120
180
240
300
360
420
480
540
600
MR
n/a
60
60
60
60
60
60
60
60
60
60
TP
-100
-90
-60
-20
0
0
-15
-55
-120
-210
-400
Explanation / Answer
hard to see because it is so long but yes, it does look correct. Great job! Do you need to show how you came to your answers? such as your marginal cost being 100-80=20 and so on
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.