Question: Please explain in detail why the answer is correct and show the mathematical steps to get the correct answer. Thank you (Table: Oil Production) Refer

Please explain in detail why the answer is correct and show the mathematical steps to get the correct answer. Thank you

(Table: Oil Production) Refer to the table. What are the fixed costs of production for this firm? Barrel of Oil Produced Marginal Revenue Marginal Cost Average Costs $50 $4 $34 50 6 40 50 11 17 50 17 17 50 23 18.20 50 29 20 50 36 22.29 50 50 25.75 50 90 32.89 50 124 42 $50 O $34 O $4 O $30

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