1. ABC Company operating in a short-run period uses fixed inputs worth P240.00 to produce good X. Using the data on the table, compute for
1. ABC Company operating in a short-run period uses fixed inputs worth P240.00 to produce good X. Using the data on the table, compute for the following: TVC 120 2 160 3 180 210 280 420 a. Total cost (TC), average fixed cost (AFC), average variable cost (AVC), average cost (AC), and marginal cost (MC) b. Plot the above-cited costs on the same axes. 2. How do the marginal cost (MC) and average cost (AC) curves in problem number 1 behave? Explain their relationship. 3. Complete the table using the data below. Round off your answer to the nearest hundredths. Labor FC VC TC MC AFC AVC ATC 200 50 110 70 320 12 110 140 335 120 155 20 150 360 170 375 190 191 12 210 200 230 424 the following periods
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