Question: A) ? BECN 150 Section ONE - Assignment No. 2 - Due Dec. 9th, 2022 Clearly show all Steps and Explanations, 65 Marks Question 1

A) ?

BECN 150 Section ONE - Assignment No. 2 - Due Dec. 9th, 2022 Clearly show all Steps and Explanations, 65 Marks Question 1 - 12 Marks A firm in perfect competition has cost curves as shown in the diagram below. $10 : MC ATC 9 .: . AVC . . . . Cost per unit O- NWAMONO .. . . " .: . ... 1 . . . .. . . . . I . . .. . 1 1 1 1 . . . . . ....: 1 2 3 4 5 6 7 8 9 10 Quantity (in 1,000s) a) Based on the above diagram, Find, or Calculate the following: 1 . AVC at 7,000 units of output? ii. ATC at 7,000 units of output? iii. AFC at 7,000 units of output? iv . TVC at 7,000 units of output? V . TFC at all levels of output? vi. TC at 7,000 units of output? 12 Marks (2 each)

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