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2 Short-Run Costs [11 pts] The same lawn care company can hire workers at $300 per day with a fixed cost of $100. L Q

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2 Short-Run Costs [11 pts] The same lawn care company can hire workers at $300 per day with a fixed cost of $100. L Q VC TC MC AVC ATC 0 0 2 4 4 28 6 76 8 132 10 182 12 206 14 178 a. [6 pts] Find the total variable cost (TVC), total cost (TC), marginal cost (MC), average fixed cost (AFC), average variable cost (AVC), and average total cost (ATC) to fill in the chart. b. [3 pts] Plot the MC, AVC and ATC curves on the same graph. c. [2 pts] Explain the relationship between the marginal cost and average cost curves. 2

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