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Ch. 10 - The Costs of ProductionWorksheetSee all chapters

# Graphing Costs

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Sections
Revenue, Cost, and Profit
The Production Function and Diminishing Returns
Marginal Cost
The Relationship Between Average Cost and Marginal Cost
Graphing Costs
Average Total Cost: Short Run and Long Run
Isoquant Lines
Isocost Lines
Cost-Minimizing Combination of Labor and Capital
###### One of the most important graphs in microeconomics!

Concept #1: Graphing Cost Curves

Practice: If average total cost is $50, quantity produced is 10 and total fixed cost$100, what is the total variable cost for the output of 10?

Practice: Based on the graph below, at a quantity of 100, AFC is equal to:

Practice: When a firm is producing zero output, total cost equals: