Free Economics Class Discussion and Homework Questions

Chapter 21  How Cost of Production Affects Supply Homework Questions

  1. Below each variable place its formula, finish the chart, and graph the results.

Units 
Produced
(1)
Total Fixed 
Costs
(2)
Total Variable Costs
(3)
Total 
Costs
Marginal Costs  Average Fixed Costs
Average Variable Costs
Average Total Costs 
Insert Formula            
0 0            
1 400 200          
2 400 300          
3 400 375          
4 400 425          
5 400 500          
6 400 700          
7 400 1,000          

 

2. List examples of the types of costs  incurred by the Music Emporium.

              Fixed                                                      Variable                                                    Explicit                                             Implicit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Free Economics Class Discussion and Homework Questions

Answers to Chapter 21 Homework Questions Table of Contents
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