Given below is the cost schedule of a firm. Its TFC is rs 120. Calculate MC and AVC at each level of output . output = 1 2 3, AC = 160 96 80

Dear student, 

 
Output Average Cost Total Fixed Cost Average Fixed Cost
(AC / Output)
Average Variable Cost 
(AC - AFC)
Total Variable Cost 
(AVC * Output)
Marginal Cost
(TVCn - TVCn-1)‚Äč
1 160 120 120 40 40 -
2 96 120 60 36 72 32
3 80 120 40 40 120 48

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