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(a) Complete the following cost schedule by computing average fixed cost and average variable cost. Instructions: Enter your responses rounded to the nearest whole number
(a) Complete the following cost schedule by computing average fixed cost and average variable cost. Instructions: Enter your responses rounded to the nearest whole number verage Variable Cost Output Total Cost Average Fixed Cost 800 1,050 1,400 1,800 2,300 4 5 (b) Complete the following cost schedule by computing average total cost and marginal cost. Instructions: Enter your responses rounded to the nearest whole number Total Cost $600 800 1,050 1,400 1,800 2,300 Marginal Cost verage Total Cost 3 4 5 (c) At what output rate is average total cost minimized? Instructions: Enter your response as a whole number units
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