Question: Please have the graph cleaned drawing and explained! Thank you! Using the information in the table below and assuming a constant price of $35 per
Using the information in the table below and assuming a constant price of $35 per unit, graph the MC, AC, and MR curves. Put all three on one graph. Make sure that it is clear where the points on the curves are. In other words, include a scale on your axes so that I can tell that you actually calculated the values.
For example, the total cost of producing 10 units would be the $400 in fixed cost plus $10 in MC for each unit, or $500. This means the average cost (AC) of producing 10 units is $50 per unit. So your AC curve should have a point with a horizontal value of 10 and a vertical value of $50.
\begin{tabular}{c|c} Quantity of output & Total cost [9] produce this \\ produced & quantity \\ \hline 0 & $400 \\ 10 & $500 \\ 20 & $620 \\ 30 & $770 \\ 40 & $970 \\ 50 & $1,220 \\ 60 & $1,540 \\ 70 & $1,940 \\ 80 & $2,440 \\ 90 & $3,040 \\ 100 & $3,790 \end{tabular}
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