Question

b. The table below shows the costs of production data of a firm producing bicycles. Output (Units) Total Variable Cost (RM) Total Cost (RM) Average Variable Cost (RM) Average Total Cost (RM) Marginal Cost (RM) 0 0 200 - - - 1 100 2 180 3 250 4 310 5 380 6 460 7 550 8 660 (i) State the value of the firm's total fixed cost. Give one example of fixed cost relevant to this firm. (2 marks) (ii) Based on the information provided, complete the table above by computing the firm's Total Costs, Average Variable Costs, Average Total Costs and Marginal Costs at all level of output. (2 marks)

          b. The table below shows the costs of production data of a firm producing bicycles.
Output
(Units)
Total
Variable
Cost
(RM)
Total Cost
(RM)
Average
Variable
Cost
(RM)
Average
Total Cost
(RM)
Marginal
Cost
(RM)
0
0
200
-
-
-
1
100
2
180
3
250
4
310
5
380
6
460
7
550
8
660
(i) State the value of the firm's total fixed cost. Give one example of fixed cost relevant to this
firm.
(2 marks)
(ii) Based on the information provided, complete the table above by computing the firm's
Total Costs, Average Variable Costs, Average Total Costs and Marginal Costs at all level
of output.
(2 marks)

b. The table below shows the costs of production data of a firm producing bicycles.
Output
(Units)
Total
Variable
Cost
(RM)
Total Cost
(RM)
Average
Variable
Cost
(RM)
Average
Total Cost
(RM)
Marginal
Cost
(RM)
0
0
200
-
-
-
1
100
2
180
3
250
4
310
5
380
6
460
7
550
8
660
(i) State the value of the firm's total fixed cost. Give one example of fixed cost relevant to this
firm.
(2 marks)
(ii) Based on the information provided, complete the table above by computing the firm's
Total Costs, Average Variable Costs, Average Total Costs and Marginal Costs at all level
of output.
(2 marks)

Added by Mary K.

Question

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