The cost table below has enough information for you to completely fill out the blanks in...

Question

Question

The cost table below has enough information for you to completely fill out the blanks in the five rows (output 0, 1, 2, 3, 4)

Answer 1

Answer #1

Ans.

Note: 1) AFC = FC/Q

2) MC = change in TC/ change in Q or change in VC/ change in Q

3) TC = sum of MC or VC = sum of MC

4) AVC= VC/Q

5) ATC = TC/Q

6) ATC = AFC+ AVC

Answer 2

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