Using the following table a) construct the cost schedule for a firm operating in the short...

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Using the following table a) construct the cost schedule for a firm operating in the short run b) Graph the average variable cost, average total cost and marginal cost curves. Quantity- Total Production Fixed 0 1 2 3 4 5 6 7 8 9 cost $160 Total Variable cost 0 Total Cost $160 $200 $230 $250 $260 $280 $320 $390 $490 $610 Marginal Average Average Average Cost Fixed Variable Total Cost Cost Cost Using the following table a) construct the cost schedule for a firm operating in the short run b) Graph the average variable cost, average total cost and marginal cost curves. Quantity- Total Production Fixed 0 1 2 3 4 5 6 7 8 9 cost $160 Total Variable cost 0 Total Cost $160 $200 $230 $250 $260 $280 $320 $390 $490 $610 Marginal Average Average Average Cost Fixed Variable Total Cost Cost Cost

Answer rating: 100% (QA)

1 Total Fixed Cost which dont change with the change in the quantity of outpu... View the full answer