Calculating various production cost parameters
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The total costs for Morris Industries are summarized in the following table. Based on this information, fill in the missing entries in the table for fixed cost, variable cost, average fixed cost, average variable cost, average total cost, and marginal cost.
1 (2) (3) (4) (5) (6) (7) (8)
Q FC VC TC AFC AVC ATC MC
0 1,000 K
10 2,000
20 2,500
30 4,000
40 6,000
50 10,000
60 15,000
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Solution Summary
The following solution calculates the TFC, TVC, AFC, AVC, ATC and MC for various output levels.
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Please refer attached file for better clarity of tables.
(1) (2) (3) (4) (5) (6) (7) (8)
Q FC VC TC AFC AVC ATC MC
...
Education
- BEng (Hons) , Birla Institute of Technology and Science, India
- MSc (Hons) , Birla Institute of Technology and Science, India
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