Question
Complete the following table:
Output (Units)Average Fixed Cost (₹)Average Variable Cost (₹)Marginal Cost (₹)Total Cost (₹)
112040--
26056-232
3-54--
430-54-

Answer

AFC: 120, 60, 40, 30
AVC: 40, 56, 54, 54
MC: 40, 72, 50, 54
TC: 160, 232, 282, 336

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Similar questions

State three features of perfect competition.
What kind of indices NIFTY, SENSEX, HDI and Producer Price Index?
Given below is the market demand and market supply of a commodity with respect to the possible prices. Analyse the data given below and answer the questions that follow:
Price (₹)1020304050
Market Demand (Units)550450350250150
Market Supply (Units)150250350450550
(i) Estimate the equilibrium price of the given commodity.
(ii) What will be the equilibrium quantity of this commodity?
(iii) At price ₹ 20 what market situation prevails?
(iv) At price ₹ 50 what market situation prevails?
Given the price of a good, how will a consumer decide as to how much quantity to buy of that good? Explain.
If the prices of other goods, the consumer's income and her tastes and preferences remain unchanged, the amount of a good that the consumer optimally chooses, becomes entirely dependent on its price. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain unchanged. The graphical representation of the demand function is called the demand curve. The relation between the consumer's demand for a good and the price of the good is likely to be negative in general. In other words, the amount of a good that a consumer would optimally choose is likely to increase when the price of the good falls and it is likely to decrease with a rise in the price of the good.
1. Do you agree with the view that law of demand need not necessarily fail in case of inferior goods?
2. Cross price effect occurs in case of substitute goods, and not in case of complementary goods. Comment.
What precautions are necessary in using secondary data?
Explain simple average of relatives for the construction of index numbers. Explain its merits and demerits.
What is procedure of drawing histogram.
What is an Index Number? Explain the difficulties or problems involved while constructing an Index Number.