1.The table below shows a car manufacturer's total cost of producing cars. Review the data provided and answer the questions that follow.

a. For each level of output, calculate the total variable cost [TVC], the average variable cost [AVC], the average fixed cost [AFC], the average total cost [ATC], and the marginal cost [MC]. Show the first calculation for each missing column of data

b. What is this manufacturer's fixed cost? Explain how you derived this

c. Draw a single, well-labeled diagram that shows the manufacturer's AVC, ATC, and MC curves.

Q TC TVC AVC AFC ATC MC $500,000 1 540,000 2 560,000 570,000 4 590,000 5 620,000 6 660,000 7 720,000 8 800,000 LO 920,000