1.Chapter 8Study Problem 10 Calculating Costs

Use the information provided in the table and fill in the blanks.

Total fixed Total variable Total Average fixed Average variable Average total Marginal Output cost cost cost cost cost cost cost $500 $0 $500 500 200 800 DU AWN-O 875 111III1 WWW 925 1 1 $100 450Quantity of Long-Run Long-Run Soybeans Total Cost Average TC Bushels (Dollars) [Dollars] 50 80 90 4 120 U 200 300