MARKET COMPETITION

Market Competition

Market Competition

1. Fill in the table below.

Units of Output

TC

TFC

TVC

ATC

AFC

AVC

MC

Q (Quantity)

0

20

10

10

4

2

2

20

5

1

3

2

1

3

2

1

3

1

2

3

2

1

3

2

1

3

1

3

30

10

20

3

2

4

15

5

4

60

10

50

12

2

10

60

5

5

75

20

55

7.5

2

5.5

75

10

6

90

10

80

18

2

16

90

5

7

120

10

110

24

2

22

120

5

8

85.92

21.48

64.44

8

2

6

86

10.74

9

450

90

360

10

2

8

450

45

Fixed costs are those whose total amount does not change according to the production activity. In other words, we can say that fixed costs vary over time rather than the activity, ie, will be presented during a period of time even if there is any production activity. By definition, fixed costs do not change during a specified period. Therefore, unlike the variables do not depend on the amount of goods and services produced during the same period (at least within a range of production). For example, the ...