Question: Can you give me a step by step on how to solve this? Chapter 5: Production and Cost Analysis in the Short Run A. Technical

Can you give me a step by step on how to solve this?

Chapter 5: Production and Cost Analysis in the Short Run A. Technical Questions: K L TP 12 0 0 12 7 12 2 16 12 3 31 12 4 45 12 UI 75 12 6 84 12 7 87 12 8 38 a. From the information in the table, calculate total fixed cost (TFC), total variable cost (TVC), total cost (TC), average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), and marginal cost (MC). b. Graph your results, putting TFC, TVC, and TC on one graph and AFC, AVC, ATC, and MC on another graph. c. At what point total average total cost is minimized? At what point average variable cost is minimized

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