Question 10

Cost schedule of a firm 

Output Total Fixed cost TFC(N) Total Variable Cost TVC (N) Total Cost  TC (N) Average Variable AVC(N) Average Total ATC (N) Marginal Cost MC(N)
0 100 0 100 0 100 -
1 100 40 140 - - -
2 100 64 164 - - -
3 100 80 180 - - -
4 100 88 188 - - -
5 100 96 196 - - -

From the cost schedule in this table calculate the Average Variable Cost (AVC), Average Total Cost (ATC) and Marginal Cost (MC) of the firm. Show your working clearly.
 

Theory

Question details

Exam body
WAEC
Subject
Economics
Year
1993
Question no.
#10
Type
Theory

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