Calculate average total cost, average fixed cost, average variable cost, and marginal cost of each output in the table. Plot these points and sketch the short-run average and marginal cost curves.

Sue’s Surfboards, in Problem 2 , hires workers at $500 a week and its total fixed cost is $1,000 a week.

Problem 2

The table sets out Sue’s Surfboards’ total product schedule.

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Labor (workers per week) 1 2 456334 7 Output (surfboards per week) 30 70 120 160 190 210 220