Question: Quantity Total Cost 0 (dollars) 500 1 600 2 ON min 680 3 720 4 800 5 890 6 1000 7 1140 8 1300 1500

Quantity Total Cost 0 (dollars) 500 1 600 2 ON min 680 3 720 4 800 5 890 6 1000 7 1140 8 1300 1500 9 10 1750 from the table above that shows a perfectly competitive firm's TC at different output level. Answert following questions of the market price of each unit is $200 fill the above table. 1. what is the amount of TFC? 2. what is the amount of TVC if the firm produces 2 units? 3. what is the amount of AVC if the firm produces 3 units 4. what is the amount of TR if the firm produces 3 units 5. what is the amount of MC for the first unit produced? 4. what is the amount of TR if the firm produces 3 units 5. what is the amount of MC for the first unit produced? 6. what is the amount of MR for the 6th unit of output? 7. what is the amount of AR if the firm produces 3 units 8. What is the optimal level of output? 9. what is the profit at the optimal level of output? 10. what is the amount of losses if the firm decide to shutdown. Note: you may use excel to find the full table, then you insert the table with answers 1 A B 1

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