Q.2Based on your knowledge of the definition of the various measures of short-run cost,complete the Table-2 given below:Table-2TotalTotalAverage AverageTotalAverageMarginalQuantityFixedVariableFixedVariableCostCostCostCostCostCostCost101414.004.00417736.333.333.00423135.752.505193.8038971.435.7189.381.258.1315

To complete the following table we use the following formula Total Cost = Fixed Cost + Variable…

Based on your knowledge of the definition of the various measures of short-run cost, complete the Table-2 given below: Table-2 Average Average Variable Fixed Cost Cost Total Total Total Quantity Average Cost Marginal Cost Fixed Variable Cost Cost Cost 10 1 4 14.00 4.00 4 2 17 7 3 6.33 3.33 3.00 2 4 23 13 5.75 2.50 5 19 3.80 6. 38 9. 7 1.43 5.71 8 9.38 1.25 8.13 15

Based on your knowledge of the definition of the various measures of short-run cost, complete the Table-2 given below: Table-2 Average Average Variable Fixed Cost Cost Total Total Total Quantity Average Cost Marginal Cost Fixed Variable Cost Cost Cost 10 1 4 14.00 4.00 4 2 17 7 3 6.33 3.33 3.00 2 4 23 13 5.75 2.50 5 19 3.80 6. 38 9. 7 1.43 5.71 8 9.38 1.25 8.13 15

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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