1 2 3 4 5 6 777 8 9 Qty of Total Total Total Average Average Average Marginal labour Product Fixed Variable Cost Fixed Variable Total Cost (MC) (V) (TP) or cost Cost (TC) cost Cost Cost output (TFC) (TVC) (AFC) (AVC) (ATC) (q) 0 0 400 0 1 10 200 2 25 400 3 45 600 4 70 800 5 90 1000 6 105 1200
1 2 3 4 5 6 777 8 9 Qty of labour (V) Total Product (TP) or output (q) Fixed cost (TFC) Total Variable Cost (TVC) Total Cost (TC) Average Fixed cost (AFC) Average Variable Cost (AVC) Average Total Cost (ATC) Marginal Cost (MC) 0 0 400 0 1 10 200 2 25 400 3 45 600 4 70 800 5 90 1000 6 105 1200
1.5._costs_revenues_and_profit.docx