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(Solved): 1- Complete the following cost schedule by computing marginal cost, average fixed cost, average var ...
1- Complete the following cost schedule by computing marginal cost, average fixed cost, average variable cost, and average total cost. Please use whole numbers only. Do not use $ signs or decimals when inputting your answers. Rate of Total Output Cost 0 $600 1 2 3 4 5 $800 $1050 $1400 $1800 $2300 Marginal cost $ I $ $ $ I Average Fixed Cost www. $ $ Average Variable Cost ---- $ $ GA $ LA Average Total Cost www. $ $ $
Expert Answer
Rate of output Total Cost Marginal cost Average fixed cost Average variable cost Average total cost 0 $600 --- --- --- --- 1 $800 200 600 200 800 2 $1050 250 300 225 525 3 $1400 350 200 267 467 4 $1800 400 150 300 450 5 $2300 500 120 340 460 Margina