Marginal cost when:
output is 1 unit : -
output is 2 units is 3
output is 3 units is 5
output is 4 units is 7
output is 5 units is 9
output is 6 units is 11.
Average total cost when:
output is 1 unit is $17
output is 2 units is $10
output is 3 units is $8.33
output is 4 units is $8
output is 5 units is $8.20
output is 6 units is $8.67
When equilibrium price is $10, number of quantity produced is 4 units. The total quantity supplied is 400.
The marginal cost is the change in total cost. Total cost is sum of total variable cost and total fixed cost.
Variable cost when :
1 unit of output is produced: 1 x 1 = 1
2 unit of output is produced: 2 x 2 = 4
3 unit of output is produced: 3 x 3 = 4
4 unit of output is produced: 4 x 4 = 16
5 unit of output is produced: 5 x 5 = 25
6 unit of output is produced: 6 x 6 = 36
Total cost when :
output is 1 unit : 16 + 1 = 17
output is 2 units : 16 + 4 = 20
output is 3 units : 16 + 9 = 25
output is 4 units : 16 + 16 = 32
output is 5 units : 16 + 25 = 41
output is 6 units : 16 + 36 = 52
Marginal cost when:
output is 1 unit : -
output is 2 units : 20 - 17 = 3
output is 3 units : 25 - 20 = 5
output is 4 units : 32 - 25 = 7
output is 5 units : 41 -- 32 = 9
output is 6 units : 52 - 41 = 11
Average total cost when:
output is 1 unit : 17 / 1 = 17
output is 2 units : 20 / 2 = 10
output is 3 units : 25/3 = $8.33
output is 4 units : 32 / 4 = $8
output is 5 units : 41 / 5 = $8.20
output is 6 units : 52 / 6 = $8.67
To learn more about fixed cost, please check: https://brainly.com/question/27127934
