# Microeconomics

Anonymous

Question description

List one example of a marginal/average relationship.

2) Fill in the table below:

 Quantity Variable Cost Fixed Cost Total Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost 0 \$ \$ \$200.00 --- --- --- --- 1 10.00 2 20.00 220.00 3 40 4 80.00 280.00 5 160.00 6 520.00 7 640.00 840.00

3) Which firm(s) are experiencing economies of scale, diseconomies of scale, or constant returns to scale?

Firm A

Firm B

Firm C

Quantity

TC

ATC

TC

ATC

TC

ATC

1

\$60.00

\$60.00

\$11.00

\$11.00

\$11.00

\$11.00

2

70.00

35.00

22.00

11.00

24.00

12.00

3

80.00

26.67

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