Based on the data given in the table ,calculate the TC and MC OUTPUT- 1 2 3 AC- 20 15 20 I--TC WILL BE a) 40,60,90,b) 80,60,90 c) 20,30,60,d) 40,60,120, II---MC will be a) 0,10,20 b)20,10,30 c)10,20,30, d) infinity ,10,20
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Given: OUTPUT- 1 2 3 and AC- 20 15 20
To find: TC and MC
Solution :
The formula for finding out the total cost that is TC when the Average cost and output is given will be, TC= AC*Output.
Therefore, TC will be, 1 into 20= 20
2 into 15 =30
3 into 20= 60
The formula for finding out the marginal cost when the total cost has been taken out will be, MC= TC- The value of TC before that.
So, it will be 20-0, 30-20, 60-30 = 20,10,30.
The total cost will be = (c) 20,30,60
The Marginal cost will be = (b) 20,10,30
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