Problem: Construct line charts for the Average Cost (AC), Average Variable Cost (AVC), Marginal Cost (MC), Marginal Revenue (MR) and Average Revenue (AR) on a Cartesian coordinate system.
| Q |
P |
TR |
TFC |
TVC |
AVC |
TC |
AC |
|
MR |
MC |
|
| 0 |
|
|
311,250 |
|
0 |
|
|
|
|
|
|
| 10,000 |
|
|
|
|
12 |
|
|
|
|
|
|
| 20,000 |
|
|
|
|
11.5 |
|
|
|
|
|
|
| 30,000 |
|
|
|
|
12.67 |
|
|
|
|
|
|
| 40,000 |
|
|
|
|
14.25 |
|
|
|
|
|
|
| 50,000 |
|
|
|
|
16 |
|
|
|
|
|
|
| 60,000 |
|
|
|
|
17.83 |
|
|
|
|
|
|
| 70,000 |
|
|
|
|
19.71 |
|
|
|
|
|
|
1. Fill in the blanks in the following table using Excel formulas:
P = 50 - 0.00025Q.
2. Construct line charts for the Average Cost (AC), Average Variable Cost (AVC), Marginal Cost (MC), Marginal Revenue (MR) and Average Revenue (AR) on a Cartesian coordinate system.