Vinnie’s Painting Company specializes in painting houses. Their cost schedule is as follows: Output     TFC         TVC        TC      AFC      AVC    ATC     MC 0.                                             1000 1.                               100 2.                                                                                             100 3.                               400 4.                                                                                450 5.                               1600 6.                               3200 7                                6400 A) Given the partial data available, finish the table and calculate all the costs. B)What is the minimum efficient scale of Vinnie’s company? C)What is the marginal cost of 6 houses? D)If Vinnie charges $825 per house, how many houses he should paint to                 maximize profit

Essentials of Economics (MindTap Course List)
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ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
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Vinnie’s Painting Company specializes in painting houses. Their cost schedule is as follows:
Output     TFC         TVC        TC      AFC      AVC    ATC     MC

0.                                             1000
1.                               100
2.                                                                                             100
3.                               400
4.                                                                                450
5.                               1600
6.                               3200
7                                6400

A) Given the partial data available, finish the table and calculate all the costs.

B)What is the minimum efficient scale of Vinnie’s company?
C)What is the marginal cost of 6 houses?
D)If Vinnie charges $825 per house, how many houses he should paint to                 maximize profit

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