Calculate Total Cost

CBSE Class 12 CBSE Class 12 Economics
,
1

Calculate Total Cost and Average Variable Cost of a firm at each given level of output from its cost schedule given below:

Calculate Total Cost.png907×103 74.4 KB

2

Calculate Total Cost.png915×210 121 KB

Formulae used
TC = TFC + TVC, TVC = AVC X Q
AVC = TVC/Q or AC - AFC,
MC = {{TVC}_{n}} -
{{TVC}_{n-1}}

AFC = TFC / Q, TFC = AFC X Q