1. Determine the costs (fixed, variable, and total) of producing different amounts of burgers. 2. Determine the marginal cost per burger as the output level increases by 10 units each time. 5. Determine the average cost for each quantity of burgers produced. L (h) Q (b) VC ($) TC ($) AC ($/b) 0 10 100 30 200 60 300 100 400 150 500 IV. OUTPUT CHOICE 210 600 Consider now the following data on weekly input and output from a burger 6. Determine the average variable cost and the average fixed cost as well, restaurant. The wage rate is w = $6/hour and the price of a burger is and verify that they add up to the average total cost: AC = AFC + AVC. p = $2/piece and these figures are constant, i.e. they do not vary with the level of input hired or output produced and marketed. The restaurant, Q (burgers) TC ($) AFC ($/b) |AVC ($/b) |AC ($/b) including all non-labor inputs, are rented and the weekly rent is FC = $100. 10 L (hours) Q (burgers) 30 0 60 10 100 100 30 200 150 60 300 210 100 400 150 500 7. Graph the variable and total cost curves. 210 600 8. Determine the profit for each level of output. 3