Question: ABUS 101 Home NAME: 1. Use the table below to answer the following questions: Output Total Cost a. What are variable costs of producing 5

ABUS 101 Home NAME: 1. Use the table below to answer

ABUS 101 Home NAME: 1. Use the table below to answer the following questions: Output Total Cost a. What are variable costs of producing 5 units? $10 $20 b. What is average total cost of producing 3 units? $28 auAWN- O $38 C. What is average fixed cost of producing 4 units? $53 $73 d. What is the marginal cost of producing the 2nd unit? $99 e. What are fixed costs? f . What is average variable cost of producing 1 unit

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