Answer to Question #71451 in Other Economics for Chandan

Question #71451
Calculate the following: Quantity Total Fixed Cost Total Variable Cost Total Cost Average Cost Marginal 25 10 18 ? ? ? 26 10 20 ? ? ? 27 10 21 ? ? ? Analyse the changes in the calculated costs as quantity produced increases.
Expert's answer
TC = FC + VC,
ATC = TC/Q,
MC = (TC2 - TC1)/(Q2 - Q1).
Q FC VC TC ATC MC
25 10 18 28 1.12 -
26 10 20 30 1.154 2
27 10 21 31 1.148 1

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