I just need someone to check my work to make sure I filled out the charts correc
ID: 1229052 • Letter: I
Question
I just need someone to check my work to make sure I filled out the charts correctly.
Variable Input
Output
Average Product
Marginal Product
0
0
*
*
1
10
10
10
2
25
12.5
15
3
33
11
8
4
44
11
11
5
50
10
6
6
51
8.5
1
7
49
7
-2
Output
Fixed Cost
Variable Cost
Total Cost
Average Fixed Cost
Average Variable Cost
Average Total Cost
Marginal Cost
0
100
0
100
***
***
***
***
10
100
150
250
10
15
25
15
25
100
300
400
4
12
16
10
33
100
450
550
3.03
13.636
16.666
18.75
44
100
600
700
2.273
13.636
15.909
13.636
50
100
750
850
2
15
17
25
51
100
900
1000
1.961
17.647
19.608
150
49
100
1050
1150
2.041
21.429
23.47
***
Variable Input
Output
Average Product
Marginal Product
0
0
*
*
1
10
10
10
2
25
12.5
15
3
33
11
8
4
44
11
11
5
50
10
6
6
51
8.5
1
7
49
7
-2
Explanation / Answer
Marginal product = change in product quantity Fixed cost = 10*10 = 100 Total cost = Fixed+variable cost Avg fixed cost = Fixed cost/output Avg variable cost = variable cost/output avg total cost = Avg fixed cost+Avg variable cost I checked your chart according to this and found no mistake.