Q28.2 2 Points | Q | TFC | TVC | TC | ATC | AVC | MC | |---|---|---|---|---|---|---| | 0 | A | 0 | 150 | NA | NA | NA | | 20 | | 250 | B | | C | | | 30 | | D | 720 | E | | | | 40 | | | 1130 | | | F | Refer to the table below to calculate the costs You only need to calculate parts A through F. It is not necessary to complete the entire table. When 20 units are produced, Total Cost is $_. This answer corresponds to the cell marked B
Added by Dammy J.
Close
Step 1
From the first row, we know that when 0 units are produced, TC is $150, and TVC is $0. Therefore, TFC must be $150. So, A = $150. Show more…
Show all steps
Your feedback will help us improve your experience
Breanna Ollech and 71 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
The total cost in dollars to produce $q$ units of a product is $C(q) .$ Fixed costs are $\$ 20,000 .$ The marginal cost is $$ C^{\prime}(q)=0.005 q^{2}-q+56 $$ (a) On a graph of $C^{\prime}(q),$ illustrate graphically the total variable cost of producing 150 units. (b) Estimate $C(150),$ the total cost to produce 150 units. (c) Find the value of $C^{\prime}(150)$ and interpret your answer in terms of costs of production. (d) Use parts (b) and (c) to estimate $C(151)$
Accumulated Change: The Definite Integral
Total Change and the Fundamental Theorem of Calculus
Table 2.13 shows the cost. $C(q),$ and revenue, $R(q),$ in terms of quantity $q .$ Estimate the marginal cost. $C^{\prime}(q)$ and marginal revenue, $R^{\prime}(q),$ for $q$ between 0 and 7. $$\begin{array}{r|r|r|r|r|r|r|r|r}\hline q & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 \\\hline C(q) & 9 & 10 & 12 & 15 & 19 & 24 & 30 & 37 \\\hline R(q) & 0 & 5 & 10 & 15 & 20 & 25 & 30 & 35 \\\hline \end{array}$$
Rate of Change: The Derivative
Marginal Cost and Revenue
Table 2.14 shows the cost, $C(q),$ and revenue, $R(q),$ in terms of quantity $q .$ Estimate the marginal cost. $M C(q)$ and marginal revenue, $M R(q),$ for $q$ between 0 and 6, $$\begin{array}{r|r|r|r|r|r|r}\hline q & 1 & 2 & 3 & 4 & 5 & 6 \\\hline C(q) & 20 & 60 & 120 & 200 & 300 & 420 \\\hline R(q) & 100 & 220 & 330 & 410 & 450 & 480 \\\hline\end{array}$$
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD
