Total Cost

Total Cost

Fill in the table. Assume TC stands for Total Cost, TFC as Total Fixed Cost, TVC as Total Variable Cost, ATC as Average Total Cost, AFC as Average Fixed Cost, AVC as Average Variable Cost, and MC as Marginal Cost. Then write a paragraph about which level of output would be considered the minimum LRATC.

Units of Output TC TFC TVC ATC AFC AVC MC
0 20
1 1
2 3
3 4
4 12
5 75
6 16
7 24
8 86
9 360
Grading Criteria Assignments Maximum Points
Meets or exceeds established assignment criteria 40
Demonstrates an understanding of lesson concepts 20
Clearly presents well-reasoned ideas and concepts 30
Uses proper mechanics, punctuation, sentence structure, and spelling 10
Total

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