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1. Fill in this table. MC TVC AVC TFC AFC TC ATC $112 1 S16 2 14 3 12 4 5 12 6 16 7

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1. Fill in this table. MC TVC AVC TFC AFC TC ATC $112 1 S16 2 14 3 12 4 5 12 6 16 7 22 8 30 9 38 10 44 a. Where do diminishing marginal returns set in? b. What is the minimum AVC? What is MC at that level of output? c. What is the minimum ATC? What is the MC at that level of output

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