1. Limited time only! Sign up for a free 30min personal tutor trial with Chegg Tutors
    Dismiss Notice
Dismiss Notice
Join Physics Forums Today!
The friendliest, high quality science and math community on the planet! Everyone who loves science is here!

Microeconomics Homework

  1. Nov 15, 2015 #1
    https://scontent.fdtw1-1.fna.fbcdn.net/hphotos-xat1/v/t35.0-12/12238195_10208423803536754_4071850233616539605_o.jpg?oh=c60d216b6c01a308ff1ace639c0d872f&oe=564A9A62

    Here's my attempt at the problem:

    https://scontent.fdtw1-1.fna.fbcdn.net/hphotos-xfp1/v/t35.0-12/12244461_10208423784976290_5465359851278665740_o.jpg?oh=2c1814947a0c437e1ad08150810c4e46&oe=564ADA87

    Here are all relevant formulas:

    TC = TFC + TVC
    AFC = TC - AVC
    ATC = (TVC/Q) + TFC/Q
    TFC = Q x Price
    AVC = (TC/Q) - (AFC /Q)
    TVC = (Q x ATC) – (Q x AVC)
     
  2. jcsd
  3. Nov 15, 2015 #2

    Ray Vickson

    User Avatar
    Science Advisor
    Homework Helper

    It makes no sense to have the total cost go down from $9.2 at Q = 2 to $6 at Q = 3. You should avoid using a spreadsheet for most of this problem; just write things out manually, so you have control over all the calculations at every step. I think getting a spreadsheet to work properly in this problem would be difficult, because you are given data items of differing natures at different output levels, so the things you need to "solve for" differ at the different output levels.
     
  4. Nov 15, 2015 #3

    Mark44

    Staff: Mentor

    In future posts, please do not delete the three parts of the homework template. The template is required for homework questions.
     
  5. Nov 15, 2015 #4
    Honestly, I just used excel to make it look easier to read and understand. I've been having problems with tables. I know what your concern is though. I don't want to use formulas for this. I don't understand where my math is wrong. That's what is making this assignment so difficult for me.

    I gave it my best effort, but I don't know what numbers I've got wrong.
     
  6. Nov 16, 2015 #5

    Does this work? What's really messing me up is output 3
     

    Attached Files:

  7. Nov 16, 2015 #6

    Mark44

    Staff: Mentor

    Showing an image of a spreadsheet is no help to us, as it doesn't show the formula that's being used in each cell.
    I agree completely with what Ray said.
     
  8. Nov 16, 2015 #7
    I'm not using formulas. I'm just typing them in and solving manually. I'm doing the math "by hand" on a calculator and these are the results I'm getting.

    If I knew what formulas to type in to begin with I wouldn't be on this website.
     
  9. Nov 16, 2015 #8

    Ray Vickson

    User Avatar
    Science Advisor
    Homework Helper

    You are not helping. We cannot just look at the formulas and tell what you have done; you need to write down the details, step-by-step if you have any hope of getting assistance. For instance, when I do the computations for output = 2 I get something totally different from what you present. You need to show how you obtained your figures, and you should do that for at least 3 or 4 output levels. It does not matter if you present the results in tabular form, as long as they are presented in a clearly-labelled way.
     
  10. Nov 17, 2015 #9
    Figured it out! All good now. Thank you for assistance!
     
Know someone interested in this topic? Share this thread via Reddit, Google+, Twitter, or Facebook

Have something to add?
Draft saved Draft deleted



Similar Discussions: Microeconomics Homework
  1. Surds homework (Replies: 6)

  2. PDE homework (Replies: 1)

  3. PDE homework. (Replies: 1)

  4. Financial homework (Replies: 1)

  5. Arithmetic homework (Replies: 1)

Loading...