I know I\'m supposed to use the formulas to calculate the TC, TFC, and AVC, but

Question

I know I'm supposed to use the formulas to calculate the TC, TFC, and AVC, but I'm not sure what numbers to use from this graph.

Does MC=TC?!

1. How do I find the TC of 12 units of x?

2. How do I find the TFC of 15 units of x?

3. How do I find the AVC of 12 units of x?

4.The slope of the TVC function at 7 units of output is (greater / smaller) than 4 and why?

4.At the level of output at which ATC has its minimum, TC is greater than $ _, but less than $ __. (The estimated range of TC should not exceed $24.) How do I find this?!

5.At output level 5, MC of (greater / smaller) than AFC and why?

6.At output level 7, TVC is (greater / smaller) than $20.00 and why?

7. The flatness point on the TC function (i.e. the point at which the numerical value of the slope is at a minimum) occurs at the output level __________ and why?

Explanation / Answer

Well..If there is a graph..i bet it will be easy by using formulas of TC,TFC and AVC by substutuing the required values in the formulas!

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