Question: (a) Complete the following cost schedule by computing average fixed cost and average variable cost. Instructions: Enter your responses rounded to the nearest whole number

(a) Complete the following cost schedule by computing average fixed cost

(a) Complete the following cost schedule by computing average fixed cost and average variable cost. Instructions: Enter your responses rounded to the nearest whole number verage Variable Cost Output Total Cost Average Fixed Cost 800 1,050 1,400 1,800 2,300 4 5 (b) Complete the following cost schedule by computing average total cost and marginal cost. Instructions: Enter your responses rounded to the nearest whole number Total Cost $600 800 1,050 1,400 1,800 2,300 Marginal Cost verage Total Cost 3 4 5 (c) At what output rate is average total cost minimized? Instructions: Enter your response as a whole number units

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