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A company has a cost structure described in the table below. Using your knowledge of the types of costs involved in a production process, fill
A company has a cost structure described in the table below. Using your knowledge of the types of costs involved in a production process, fill in the blanks in the table.
Quantity produced | Total Cost | Total Fixed Cost | Total Variable Cost | Average Total Cost | Average Fixed Cost | Average Variable Cost | Marginal Cost |
0 | 100 | 0 | - | - | - | - | |
1 | 160 | ||||||
2 | 80 | ||||||
3 | 65 | ||||||
4 | 10 | ||||||
5 | 120 | ||||||
6 | 40 | ||||||
7 | 180 | ||||||
8 | 30 | ||||||
9 | 421 | ||||||
10 | 100 |
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