A firm has a fixed cost of $60 and variable costs as shown in the table below. Complete the table below. I just need some direction and input as to how I can find the answers that fall under the particular headings. Thanks a lot© BrainMass Inc. brainmass.com October 9, 2019, 5:56 pm ad1c9bdddf
I've completed the table using Excel formulae in the Excel file I'm attaching. These are the formulae that you need to use for these kind of exercises:
TFC (Total Fixed Costs) = $60 always. Fixed costs are fixed precisely because they don't change with the number of units produced.
TVC (Total Variable Costs) = (given in the table)
TC (Total Costs) = This is ...
Production Costs are noted.