Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not...
Question:
Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. Hint: Determine the total fixed cost first. Instructions: Round your answer to 2 decimal places. Fill in the parentheses.
| Out put | Average fixed cost | Total Variable Cost | Average Total Cost | Marginal Cost | Total Cost |
| 0 | - | - | - | ||
| 1 | $10 | $ 9.76 | $ 9.76 | $ 19.76 | |
| 2 | $ 19.06 | $ 14.53 | $ 9.3 | $ 29.06 | |
| 3 | $ 3.33 | $ 12.63 | $ 37. 9 | ||
| 4 | $ 2.5 | $ 36. 31 | $ 11.58 | $ 8.41 | $ 46.31 |
| 5 | $ 2 | $ 44.3 | $ 10.86 |
Fixed Costs:
A company's Fixed Costs are part of its cost structure along with variable costs. Fixed Costs are those that, by definition, will not change as output increases or decreases. An example of Fixed Costs are the fixed salaries paid to executives.
Answer and Explanation: 1
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View this answerSee below as we calculate these items.
Total fixed costs are $10 since this is the fixed cost when output is 1 unit.
The marginal cost is equal to...
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Fixed Costs: Definition, Formula & Examples
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Chapter 3 / Lesson 14
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What is a fixed cost? Learn the fixed cost definition and how to calculate it using the fixed cost formula. Compare fixed vs. variable costs and see fixed costs examples in business.
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