At zero output total cost is $50, at 1 unit total cost is $70, at 2 units TC is $85, at 3 units TC=$95, 4 units TC = $120, 5 units TC=$160, 6 units tc=$240.

A. How much are fixed costs?

B. With which unit does diminishing returns begin?

C. How much are average total costs at 5 units?

D. How much are average fixed costs at 5 units?

E. What is the marginal cost of the 6th unit?

F. How much are average variable costs at 4 units?

Answer rating: 100% (QA)

OUTPUT TC TFC TVC ATC AFC AVC MC 0 50 50 0 0 0 0 20 1 70 50 20 70 50 20 15 2 85 50 35 425 25 175 10 ... View the full answer