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9. Firm's Cost Schedule Felix's Juice Bar has the following cost schedules: In the following table, complete the marginal cost, average variable cost, and average
9. Firm's Cost Schedule Felix's Juice Bar has the following cost schedules: In the following table, complete the marginal cost, average variable cost, and average total cost columns. Quantity Variable Cost Total Cost Marginal Cost Average Variable Cost Average Total Cost (Vats of juice) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) 0 0 30 1 5 35 :l I: 6 105 135 :l |:] C On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Felix's Juice Bar. (Note: Be sure to plot from left to right and to plot between integers. For example, if the marginal cost of increasing production from 1 vat of juice to 2 vats of juice is $5, then you would plot a point at (1.5, 5).) Then use the purple points (diamond symbol) to plot the averagevariable cost curve starting at 1 vat of juice, and use the green points (triangle symbol) to plot the average-totalcost curve also starting at 1 vat of juice. 40 III 35 Marginal Cost 30 + 25 Average Variable Cost 2 8 20 A (.3 15 Average Total Cost 10 0 1 2 3 4 5 6 Quantity (Vats ofjuice) Which of the following statements are true according to the previous graph? Check all that apply. C] The marginalcost curve is below the averagetotaIcost curve when output is greater than four and average total cost is rising. C] The marginal-cost curve lies above the average-variabIe-cost curve. C] The marginalcost curve is below the averagetotaIcost curve when output is less than four and average total cost is declining
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