(A) Calculate Marginal Costs, Total Costs, Average Fixed Costs, Average

question 128

Essay

(a) Calculate marginal costs, total costs, average fixed costs, average variable costs and average total costs, given the following table. Fixed costs are $100. $$\begin{array} { | c | c | c | c | c | c | c | } \hline \text { Output } & \begin{array} { c } \text { Total } \\\text { Variable } \\\text { Cost }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Cost }\end{array} & \begin{array} { c } \text { Total } \\\text { Cost }\end{array} & \begin{array} { c } \text { Average } \\\text { Fixed } \\\text { Cost }\end{array} & \begin{array} { c } \text { Average } \\\text { Variable } \\\text { Cost }\end{array} & \begin{array} { c } \text { Average } \\\text { Total } \\\text { Cost }\end{array} \\\hline 0 & 0 & & & & & \\\hline 1 & 60 & & & & & \\\hline 2 & 90 & & & & & \\\hline 3 & 110 & & & & & \\\hline 4 & 150 & & & & & \\\hline 5 & 230 & & & & & \\\hline 6 & 450 & & & & & \\\hline 7 & 610 & & & & & \\\hline 8 & 810 & & & & & \\\hline\end{array}$$ (b) Between what levels of output is there increasing marginal productivity?
(c) If labour were the only input to this production process, between what levels of output is the marginal product of labour falling?

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