Short-Run Costs 7.3-9 Hunter Parrott Flashcards Preview

Econ 2106 Exam 2 > Short-Run Costs 7.3-9 Hunter Parrott > Flashcards

Flashcards in Short-Run Costs 7.3-9 Hunter Parrott Deck (12):
1

ATC=

TC/TP

2

IF TC is not available use this formula.

ATC= FC/TP + VC/TP

3

TP=2
TC= $11,000
ATC= ?

$5500

4

TP= 10
TC=?
ATC= $1200

$12,000

5

TP= 30
TC= $13,000
ATC=?

$433

6

TP= 40
TC= $14,000
ATC=?

$350

7

TP= ?
TC= $15,000
ATC= $333

45

8

A second method for calculating ATC is to separate __ into fixed costs (FC) and variable costs (VC)

TC

9

TP= 48
TC= $16,000
ATC= ?

$333

10

TP= ?
TC= $17,000
ATC= $347

49

11

TP= 48
TC= ?
ATC= $375

$ 18,000

12

TP=5
TC= $365
ATC= ?

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