Chapter 12

# Chapter 12 - Quantity of Output Fixed Cost Variable Cost...

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1 2 3 4 5 6 7 8 W orkers 10 20 30 40 50 60 70 80 90 100 Output Fig.1 depicting the production function for cookies Number of Workers Output Fixed Cost Variable Cost Total Cost 0 0 \$50 \$0 \$50 1 90 \$50 \$20 \$70 2 170 \$50 \$40 \$90 3 230 \$50 \$60 \$110 4 240 \$50 \$80 \$130 Table 1 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 \$50 \$50 \$0 -- -- -- -- 1 \$150 A B C D E F 2 G H I \$120 J K L 3 M N O P Q \$120 R Table 2(depicting the Costs for Flying Elvis Copter rides)

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Unformatted text preview: Quantity of Output Fixed Cost Variable Cost \$20 \$0 1 \$20 \$10 2 \$20 \$40 3 \$20 \$80 4 \$20 \$130 5 \$20 \$200 6 \$20 \$300 Table 3 A B C D 1 2 3 4 5 6 7 8 9 10 11 12 Quantity 1 2 3 4 5 6 7 8 9 10 11 Cost Fig 2 C A D MC ATC AVC B Quantity Cost Fig 3...
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Chapter 12 - Quantity of Output Fixed Cost Variable Cost...

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