Cost curves

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This graph is not to scale so do not look at slopes and formulate equations . Approach this as reading the numbers of most of the points then multiplying, dividing, adding or subtracting. The answers will be deduced from information on other quantity information (for instance if you cannot do the calculations at quantity 5, then look at how this information could be deduced from information that you can read/calculate at quantity 10 – for instance). The key to some of the deductions is the TFC and AFC calculations.

Fill in the numbers and show your calculations. Do not estimate or guesstimate. The answers have to be very accurate based on the information on the graph.

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