15th Assignment 1. You and your partner open a Cupcake Store in Foggy Bottom. You estimate the marginal cost of a cupcake as being c80. Your partner reviews your work and says: "You've forgotten about our lease payment; the marginal cost should really be $1.50" Explain whether your Partner or You are correct about the inclusion of the lase payment when calculating marginal cost. 2. Suppose the cost of producing 10,000 Fidget Spinners is $20,000 with a fixed cost of $10,000 a. What is the variable cost? b. When the firm is producing 10,000 what is the average variable cost and the average fixed cost? c. Is the dollar difference between average total cost and average variable cost greater at 10,000 or 20,000