Calculating TFC, AVC, TVC, TC, ATC, ATC and MC

Consider a firm that has just built a small plant, which cost $4,000. Each unit requires $2.00 worth of materials. Each worker costs $7.00 per hour. Based on this information and using Excel, fill in the missing information in the table below.

Number of worker hours Output Fixed Cost TVC TC MC AFC AVC ATC
0 0
50 400
100 900
150 1300
200 1600
250 1800
300 1900
350 1950

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Solution Summary

Solution describes the formulas and methodology to calculate TFC, AVC, TVC, TC, ATC, ATC and MC for the given firm.