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in Economics by (58.2k points)

A firms’ average fixed cost of producing 2 units of a good is Rs. 9 and given below is its total cost schedule. Calculate its Average variable cost and marginal cost for each of the given level of output.

Output  1 2 3
TC (Rs.) 23 27 30

1 Answer

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Best answer

TFC = AFC × No. of Units of output

= 9 × 2 = 18

Output Q Units TC Rs TFC Rs. TVC Rs AVC Rs. MC Rs.
1 23 18 5 5 5
2 27 18 9 4.50 4
3 30 18 12 4 3

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