Question: Calculate average total cost, average fixed cost, average variable cost, and marginal cost of each output in the table. Plot these points and sketch the

Calculate average total cost, average fixed cost, average variable cost, and marginal cost of each output in the table. Plot these points and sketch the short-run average and marginal cost curves.

Sue’s Surfboards, in Problem 2 , hires workers at $500 a week and its total fixed cost is $1,000 a week.

Problem 2

The table sets out Sue’s Surfboards’ total product schedule. Labor (workers per week) 1 2 456334 7 Output (surfboards per week)

Labor (workers per week) 1 2 456334 7 Output (surfboards per week) 30 70 120 160 190 210 220

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