Douglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows...

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Douglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows the company's total cost of production at various production quantities. Fill in the remaining cells of the following table. Total Cost Marginal Cost (Dollars) Quantity Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 60 60 95 95 1 155 60 155 65 2 220 60 35 3 255 60 45 4 300 60 50 350 60 100 6 450 60 On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $155, so you should start your ATC curve by placing a green point at (1, 155). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 200 175 ATC A 150 125 AVC 100 MC 75 50 25 2 3 5 QUANTITY OF OUTPUT (Pairs of boots) COSTS (Dollars per pair) Douglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows the company's total cost of production at various production quantities. Fill in the remaining cells of the following table. Total Cost Marginal Cost (Dollars) Quantity Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 60 60 95 95 1 155 60 155 65 2 220 60 35 3 255 60 45 4 300 60 50 350 60 100 6 450 60 On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $155, so you should start your ATC curve by placing a green point at (1, 155). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 200 175 ATC A 150 125 AVC 100 MC 75 50 25 2 3 5 QUANTITY OF OUTPUT (Pairs of boots) COSTS (Dollars per pair)

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Answer Solution Q TC MC FC VC AVC AT... View the full answer