# Problem - Total Cost, Average Cost, Marginal Cost

Question:

(a)  Complete the following table of costs for a firm.  (Note: enter the figures in the MC  column between outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

 Output (Units) TC  (\$) AC  (\$) MC  (\$) 0 55 — 30 1 85 85 25 2 110 55 20 3 130 43.3333333 30 4 160 40 50 5 210 42 70 6 280 46.6666667 90 7 370 52.8571429 110 8 480 60 130 9 610 150 10 760 76

(b)        How much is total fixed cost at:

(i)         an output of 0 units ?

(ii)        an output of 6 units?

(c)        How much is average fixed cost at:

(i)         an output of 5 units?

(ii)        an output of 10 units?

(d)       How much is total variable cost at an output of 5 units?

(e)        How much is average variable cost at an output of 10 units?

Summary:

A number of units produced for a given fixed cost and variable cost are calculated in the answer through the given table.

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