Question: a. Complete the table below Quantity TC TVC AFC ATC MC AVC 1 200 2 100 3 20 4 240 5 24 6 660 160

a. Complete the table below Quantity TC TVC AFC ATC MC AVC 1 200 2 100 3 20 4 240 5 24 6 660 160

b. Using the table below indicate if the firm has (i) diseconomies of scale (ii) economies of scale or (iii) constant returns to scale over the entire range of output. Explain your answer [6 marks] Quantity(Units ofoutput ) 1 2 3 4 5 6 7 Firm A 60 70 80 90 100 110 120 Firm B 11 24 39 56 75 96 119 Firm C 21 34 49 66 85 106 129 c. Evaluate the view that the main goal of firms will always be cost minimization.

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