Question

The total costs for Morris Industries are summarized in the following table. Based on this information,...

  1. The total costs for Morris Industries are summarized in the following table. Based on this information, fill in the missing entries in the table for fixed cost, variable cost, average fixed cost, average variable cost, average total cost, and marginal cost.

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

Q

FC

VC

TC

AFC

AVC

ATC

MC

0

1,000

10

2,000

20

2,500

30

4,000

40

6,000

50

10,000

60

15,000

0 0
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