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BU224 Unit-6

Question # 00028093
Subject: Economics
Due on: 10/12/2014
Posted On: 10/12/2014 07:50 AM

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BU224 Unit 6

Quantity of Boats Total Cost
0 $ 450,000
1 $ 490,000
2 $ 510,000
3 $ 520,000
4 $ 540,000
5 $ 570,000
6 $ 610,000
7 $ 670,000
8 $ 750,000
9 $ 870,000

1. What is this manufacturer’s fixed cost?


2. For each level of output, calculate the variable cost (VC). For each level of output except zero output, calculate the average variable cost (AVC), average total cost (ATC), and average fixed cost (AFC)


Qty of boats Total Cost Variable Costs
(a.) Average Variable Costs
(b.) Average Total Costs
(c.) Average Fixed Cost
(d.)
0 $450,000 - - - -
1 490,000
2 510,000
3 520,000
4 540,000
5 570,000
6 610,000
7 670,000
8 750,000
9 870,000


3. What is the minimum-cost output?
4. For each level of output, calculate this manufacturer’s marginal cost (MC)
(For convenience, place the Marginal Cost between 0 and 1 boat on the second row, the Marginal Cost between 1 and 2 boats on the third row, and so on)

Qty of boats TC Marginal Costs
0 $450,000 -
1 490,000
2 510,000
3 520,000
4 540,000
5 570,000
6 610,000
7 670,000
8 750,000
9 870,000

Tags unit6 bu224 cost output average marginal variable calculate fixed level 0 1 2 3 4 5 6 7 total boatstotal manufacturers minimumcost quantity cost0 8 unit convenience boatstcmarginal costs04500001490000 boats

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BU224 Unit-6

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Posted On: 10/12/2014 07:52 AM
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Preview: cost xx 450,000 xxx this is xxxxx cost Fixed xxxx 450,000 x xxx each xxxxx of output, xxxxxxxxx the variable xxxx (VC) xxx xxxx level xx output except xxxx output, calculate xxx average xxxxxxxx xxxx (AVC), xxxxxxx total cost xxxxxx and average xxxxx cost xxxxx xxx of xxxxxxxxxx CostVariable CostsAverage xxxxxxxx CostsAverage Total xxxxxxxxxxxx Fixed xxxxxx xxx )(c xxx )0450,000 ----1490,00040,000.....
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