Question: output tfc tvc tc afc avc ac mc 0 10...
Question details
|
Output |
TFC |
TVC |
TC |
AFC |
AVC |
AC |
MC |
|
0 |
10 |
0 |
10 |
|
|
|
|
|
1 |
10 |
8 |
18 |
10.00 |
8.00 |
18.00 |
8 |
|
2 |
10 |
12 |
22 |
5.00 |
6.00 |
11.00 |
4 |
|
3 |
10 |
15 |
25 |
3.33 |
5.00 |
8.33 |
3 |
|
4 |
10 |
17 |
27 |
2.50 |
4.25 |
6.75 |
2 |
|
5 |
10 |
20 |
30 |
2.00 |
4.00 |
6.00 |
3 |
|
6 |
10 |
24 |
34 |
1.67 |
4.00 |
5.67 |
4 |
|
7 |
10 |
29 |
39 |
1.43 |
4.14 |
5.57 |
5 |
|
8 |
10 |
36 |
46 |
1.25 |
4.50 |
5.75 |
7 |
|
9 |
10 |
48 |
58 |
1.11 |
5.33 |
6.44 |
12 |
|
10 |
10 |
70 |
80 |
1.00 |
7.00 |
8.00 |
22 |
(b) At what output do diminishing marginal returns set in (assume constant factor prices)? (2 marks)
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