Question: 3. (12 points) Use the following table to answer the following questions (the book doesn't cover AFC and it's not particularly important - I include

3. (12 points) Use the following table to answer the following

3. (12 points) Use the following table to answer the following questions (the book doesn't cover AFC and it's not particularly important - I include it here for completeness. AFC = FC Q TC VC FC MC ATC AVC AFC 0 100 1 40 2 30 3 100 4 70 a. What is the total cost of producing nothing, i.e. Q = 0? b. What is the variable cost of the 1st unit? C. What is the marginal cost of the 2nd unit? d. What is the average variable cost of the 3rd unit? e. What is the total cost of the 4th unit? f. At what level of output do diminishing returns to production set in

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