CostsofProduction - Widget Accounting Group 3 FC Fixed...

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Widget Accounting Group 3 FC VC FC+VC L TC Fixed Costs Variable Costs Total ; Materials Labor ($10 per person) Cost Round One 1 Cost $20.00 $10.00 $30.00 Round Two Cost $20.00 $20.00 Round Three Cost $20.00 $20.00 Round Four Cost $20.00 $20.00 Round Five Cost $20.00 $20.00 Grand Total
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FC/Q VC/Q TC/Q ∆TC/∆Q* Q AFC AVC ATC MC Average Average Average Fixed Variable Total Marginal Quantity Cost Cost Cost Cost Produced #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! $(10.00) #DIV/0! #DIV/0! #DIV/0! $- #DIV/0! #DIV/0! #DIV/0! $- #DIV/0! #DIV/0! #DIV/0! $- 0
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Profit Maximization Example FC+VC FC/Q VC/Q TC/Q ∆TC/∆Q Price*Q TR/Q ∆TR/∆Q TR-TQ Q P FC VC TC AFC AVC ATC MC TR AR MR Quantity Average Average Average of Price of Fixed Variable Total Fixed Variable Total Marginal Total Average Marginal Fish Fish Costs Costs Cost Cost Cost Cost Cost Revenue Revenue Revenue Profit 0 $0.90 $2,000 $0 $2,000 -2,000 1,000 $0.90 $2,000 $340 $2,340 $2.00 $0.34 $2.34 $0.34 900 $0.90 $0.90 -1,440 2,000 $0.90 $2,000
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This note was uploaded on 04/27/2011 for the course ECON 1100 taught by Professor Dun during the Spring '11 term at Al Fateh University.

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CostsofProduction - Widget Accounting Group 3 FC Fixed...

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