1.Consider the following table.

Total output

0

10

20

30

40

50

60

Costs

20

40

60

90

120

180

280

a.Calculate the total fixed costs, total variable costs, average fixed costs, average variable costs, average total costs, and marginal costs.

b.Find the quantity where MC = ATC. Find the quantity where ATC is at its minimum. Find the quantity that is the most efficient operating point for the firm