The accompanying table shows a car manufacturer’s total cost of producing cars.
Quantity of Cars | TC |
---|---|
0 | $500,000 |
1 | 540,000 |
2 | 560,000 |
3 | 570,000 |
4 | 590,000 |
5 | 620,000 |
6 | 660,000 |
7 | 720,000 |
8 | 800,000 |
9 | 920,000 |
10 | 1,100,000 |
What is this manufacturer’s fixed cost?
Fixed cost: $j9Y0UOH7xO3KfYNkflg3zMn/M9pgreO/YXMGcB8sVnX47ERADqNHEoEEnT3V3t7yMEjKq8ZPFEDznAtjNhdmZ8YranGHTAwXyKGdFI4nNl8=
Complete the table by calculating the variable cost (VC) for each level of output. Please round your answer to the nearest dollar.
Quantity of Cars | TC | Variable Cost (VC) |
---|---|---|
0 | $500,000 | $ZGVg74NXfao7Qvv4pKuELJf1skw= |
1 | 540,000 | $opBM8ulVoC7fTDhhsIy3qg== |
2 | 560,000 | $sEFP+60ak/FM7ljc248Etg== |
3 | 570,000 | $rKizAeaKSUJDuoP3JikH4g== |
4 | 590,000 | $tDd4MaezKuGlGQwjVcxL1A== |
5 | 620,000 | $eoKjWDAmVFKoWi6DmT4M7F+RMek= |
6 | 660,000 | $FFh2Qx7t9MUxV+5rPNmLuIzBLXs= |
7 | 720,000 | $gtQXE97KJSodee8uC3cIdMVRTtk= |
8 | 800,000 | $JrivKM8JRXCI7HHZ//PBpLlWor8= |
9 | 920,000 | $xncpv07PCGz7CrsFby2DaZ69Pj4= |
10 | 1,100,000 | $/uuRs3rQCGKTKUw5xSwt/+FKYnI= |
Complete the table: for each level of output except zero output, calculate the average variable cost (AVC), average total cost (ATC), and average fixed cost (AFC) (please round your answer to the nearest whole number).
Quantity of Cars | TC | Variable Cost (VC) | Average variable cost (AVC) | Average total cost (ATC) | Average fixed costs (AFC) |
---|---|---|---|---|---|
0 | $500,000 | 0 | - | - | - |
1 | $540,000 | 40,000 | 3aFRRMR75gPdUVC0vjH1rwwvbHc= | DshzPEhD/AmKe7TOVOxe6jHPAEE= | GJ7umqIE51qRVlnYbP8mya3YMbQ= |
2 | 560,000 | 60,000 | tfuGUnAHT+NORTjUYIbHYpKqfy4= | 4VqSdpchGcBMdfIUeRlVeQjv24E= | /YGAOZRvN2CTDxxDlBGfo/qTeC0= |
3 | 570,000 | 70,000 | BLIL9TyJWau+srdCqEHQ1hNexYA= | /Aj8RijiWUaaB712dETSvChIAbg= | 4JtjiFkSXe3JgNE3dKJE7IqMw8c= |
4 | 590,000 | 90,000 | PUlFsnQYXA6A7vGgBi3CJayrihg= | xsyXGZrxj0zQokKsUJfmq4r/8+4= | hBcVimQwa+VYg8Zb2YdqVnZ2ul8= |
5 | 620,000 | 120,000 | 1qY1L3AFiRPMlwftDJiygNV0YC8= | 6EsIzs9wQpHo2t5gHjUum/e7ycI= | oN6AtcUWYA7iCqLqh1eIPfW4veQ= |
6 | 660,000 | 160,000 | hpwRflwUpide1vE/UcCEft1Fg7Q= | UTOgsSpe7A2nOUEs+2WmC/2hQBY= | U6fLlqzzjWEPoGHqJ3d0fAdHBr4= |
7 | 720,000 | 220,000 | 9BdpyaWoaODORTmMGGcEW1AYiQM= | g0ruvRRHFlEWsLr20QJcpth9DcM= | 3stYaui+sD0fMy1Shd8Z4CiViUY= |
8 | 800,000 | 300,000 | 6kZaVV9PJZnawqpmhfKIM9YsJqY= | oN6AtcUWYA7iCqLqh1eIPfW4veQ= | ZKSa8QSiFwyN/D5KFyWjvgnguUQ= |
9 | 920,000 | 420,000 | sIQD9sCwqko67fkzIuyG+7GqvXQ= | myzO5ZPfbgrNMgmwwFbtf+HYdS0= | vCCoV0N3YMp3yANUtroHLjHDY60= |
10 | 1,100,000 | 600,000 | GnL3dUKYm0wACT6MYAsBs8DV4do= | UTOgsSpe7A2nOUEs+2WmC/2hQBY= | O+hSmLJirZYb383V588BmGft72E= |
Complete the table by calculating the marginal cost (VC) for each level of output. Please round your answer to the nearest whole number.
Quantity of Cars | TC | Marginal Cost (MC) |
---|---|---|
0 | $500,000 | - |
1 | 540,000 | opBM8ulVoC7fTDhhsIy3qg== |
2 | 560,000 | EVnPUUahpF4ASTkz/J+qmw== |
3 | 570,000 | FPVg3kT8sXb07noVdPTKDw== |
4 | 590,000 | EVnPUUahpF4ASTkz/J+qmw== |
5 | 620,000 | YWX2v9hCFftqkavFIrX9YA== |
6 | 660,000 | opBM8ulVoC7fTDhhsIy3qg== |
7 | 720,000 | sEFP+60ak/FM7ljc248Etg== |
8 | 800,000 | UtTrhUsxAbWlHreXCQAjLg== |
9 | 920,000 | eoKjWDAmVFKoWi6DmT4M7F+RMek= |
10 | 1,100,000 | n/hOgAdSPHFPQ1nqL5y1joZTDEc= |
Label the manufacturer’s AVC, ATC, and MC curves.
Curve A is wBBitpIsTMrmnpnp1XTC5JlSNjc=
Curve B is sbyrXt3yS9c4DsjBkFygX54qr8Q=
Curve C is MMi0syRscQaH9XZIYtYyjHKnQkQ=