the various measure of the cost On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost(AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: ForATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $200, so you should start your ATC curve byplacing a green point at (1, 200). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair ofboots is $80, so you should start your MC curve by placing an orange square at (0.5, 80).)Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.(?200175ATC150125AVC100MC7550251235QUANTITY (Pairs of boots)COSTS (Dollars per pair) Douglas Fur is a small manufacturer of fake-fur boots in Denver. The following table shows the company's total cost of production at variousproduction quantities.Fill in the remaining cells of the following table.Total Cost Marginal CostVariable CostAverage Total Cost(Dollars per pair)QuantityFixed CostAverage Variable Cost(Pairs)(Dollars)(Dollars)(Dollars)(Dollars)(Dollars per pair)1201.2002.24032854.3404256540On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost(AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: ForATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $200, so you should start your ATC curve byplacing a green point at (1, 200). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair ofboots is $80, so you should start your MC curve by placing an orange square at (0.5, 80).)Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.

Total cost refers to the total expenditure incurred by a person in producing a good or providing a…

Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 120 1 200 2 240 285 4 340 425 6. 540 On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $200, so you should start your ATC curve by placing a green point at (1, 200). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $80, so you should start your MC curve by placing an orange square at (0.5, 80).)

Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 120 1 200 2 240 285 4 340 425 6. 540 On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $200, so you should start your ATC curve by placing a green point at (1, 200). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $80, so you should start your MC curve by placing an orange square at (0.5, 80).)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Why is it essential to keep a close eye on fixed expenses?
how to answer this?
What are the factors that influence a company’s cost ofcapital?
will a supplier be able to reduce its cost structure through additional volume?
Quantity/Output Total Fixed Cost Average Fixed Cost Total Variable Cost Average Variable Cost Total Cost Average Total Cost Marginal Cost (units) (dollars) (dollars) (dollars) (dollars) (dollars) (dollars) (dollars) 0 $50 $0 10 $50 $20 25 $50 $40 45 $50 $60 60 $50 $80 70 $50 $100
Write the advantages and disadvantages of Cost benefits.
Many people believe that businesses that commit fraud cannot last long because (a) the government will shut them down (b)their competition will sue them (c)word will spread and they will lose their customers (d) they will be apprehended and put in jail.
How should salespeople and their tasks be structured?
write thesis about innovation in business
How did you get the productivity of the new unit. What formula is used?
Which divisions of the business spent their money on products and services that were correctly budgeted for?
The first step to take when you consider making a major purchase is to decide (a) whether you need the product (b) whether you have enough money to buy the product (c) what make and model of the product you should buy (d) where the best place is to purchase the product.