2. Suppose rocking-chair manufacturing is a perfectly competitive industry in which there are 1,000 identical firms. Each firm’s total cost is related to output per day as follows:

Quantity Total cost Quantity Total cost 0 $500 5 $2,200 1 $1,000 6 $2,700 2 $1,300 7 $3,300 3 $1,500 8 $4,400 4 $1,800

a. Prepare a table that shows total variable cost, average total cost, and marginal cost at each level of output.