Quantity	Variable Cost	Total Cost
1	30	90
2	50	110
3	90	150
4	140	200
5	200	260

1. What is the firm's fixed cost? 2 points

2. Compute marginal cost, average variable costs, and average total costs for the above table? 4 points

3. If the market price is $50 (MR=$50), calculate how may units will the firm produces?

4. Calculate the firms profit/loss, if the marketprice is $50 (MR=$50). 2 points

5. Draw the three cost curves: (Average total cost, Average variable cost and marginal cost). 2 points.