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    Short-run average cost curve

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    Complete the following table (round each answer to the nearest whole number):

    Total Variable Fixed Marginal Average Avg. Avg. Fixed
    Var.
    Output Cost Cost Cost Cost Cost Cost Cost
    0
    1 5
    2 30
    3 13
    4 105 10
    5 110
    6 50

    Complete the table then draw the following curves (on a single graph)
    • Short-run average cost curve;
    • Short-run marginal cost curve

    © BrainMass Inc. brainmass.com October 10, 2019, 12:54 am ad1c9bdddf
    https://brainmass.com/economics/output-and-costs/short-run-average-cost-curve-312625

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    Explanation

    Fixed cost is the cost incurred even if there is no output.

    If we refer to the given values in the tables, ...

    Solution Summary

    Total Cost is demonstrated for short-run average cost curves.

    $2.19