(Solved): submitting the assignment. \table[[\table[[Total],[Product]],\table[[Total],[Fixed Cost]],\table[[T ...

submitting the assignment. \table[[\table[[Total],[Product]],\table[[Total],[Fixed Cost]],\table[[Total],[Variable Cost]],\table[[Total],[Cost]],\table[[Average],[Fixed Cost]],\table[[Average],[Variable Cost]],\table[[Average],[Total Cost]],\table[[Marginal],[Cost]]],[0,$,$ 0,$,,,$,],[1,,45,—,$_,$,—,$],[2,—,85,—,—,——,——,],[3,,120,,-,——,,],[4,-,150,,—,—,,],[5,—,185,—,——,—,-,],[6,,225,,—,—,—,],[7,—,270,——,—,-,-,],[8,—,325,—,-,-,—,],[9,-,390,—,—,——,——,],[10,——,465,—,——,—,-,]] See table page 218 complete the table, answer the following_questions, and submit assignment. Graph total fixed cost, total variable cost, and total cost. Explain how the law of diminishing returns influences the shapes of the variable-cost and total-cost curves. Graph AFC, AVC, ATC, and MC. Explain the derivation and shape of each of these four curves and their relationships to one another. Specifically, explain in nontechnical terms why the MC curve intersects both the AVC and the ATC curves at their minimum points. Explain how the location of each curve graphed in question 2 would be altered if (1) total fixed cost had been

rather than

and ( 2 ) total variable cost had been

less at each level of output.