Question: 5 a Using the following table, construct the cost schedule for a firm operating in the short run. b Graph the average variable cost, average

5 a Using the following table, construct the cost schedule for

5 a Using the following table, construct the cost schedule for a firm operating in the short run. b Graph the average variable cost, average total cost and marginal cost curves. Total Total Total Total Marginal Average Average Average product fixed cost variable cost cost fixed cost variable total cost (Q (TFC) cost (TVC) (TC) (MC) (AFC) cost (AVC) (ATC) 0 $50 $ $50 $ $ 120 70 N 85 95 4 100 U 110 6 130 7 165 CO 215 9 275

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