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# KAPLAN MICROECONOMICS BU224 Unit 6 Homework

Question # 00028266
Subject: Economics
Due on: 10/14/2014
Posted On: 10/14/2014 04:41 AM

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HOMEWORK - UNIT 6

BEHIND THE SUPPLY CURVE : INPUTS AND COSTS

5.The accompanying table shows a boat manufacturerâ€™s total cost of producing boats.

 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

a.What is this manufacturerâ€™sfixed cost?

b.For each level of output, calculate thevariable cost (VC). For each level of output except zero output, calculate theaverage variable cost (AVC),average total cost (ATC), andaverage fixed cost (AFC)

 Qty of boats Total Cost Variable Costs Average Variable Costs Average Total Costs Average Fixed 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

What is the minimum-costoutput?

c.For each level of output, calculate this manufacturerâ€™smarginal cost (MC)

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#### KAPLAN MICROECONOMICS BU224 Unit 6 Homework

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