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Question
Given that the fixed cost is Rs. 30. Calculate TVC and TC from the following data:
| Output (units) | 0 | 1 | 2 | 3 |
| Marginal Cost | 0 | 10 | 15 | 25 |
Solution
| Output | Marginal Cost | TVC | TC |
| 0 | 0 | 0 | 30 |
| 1 | 10 | 10 | 40 |
| 2 | 15 | 25 | 55 |
| 3 | 25 | 50 | 80 |
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RELATED QUESTIONS
Define marginal cost.
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| 1 | 8 | 10 |
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|
L |
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0 |
10 |
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1 |
30 |
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3 |
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1 |
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2 |
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3 |
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| Total cost | 40 | 60 | 78 | 97 |
