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A firm's fixed cost for the production of electric spaghetti forks is $1,000. The average total cost (ATC) for different output levels is shown in
A firm's fixed cost for the production of electric spaghetti forks is $1,000. The average total cost (ATC) for different output levels is shown in the table below.Fill out the table to show the variable cost (VC), total cost (TC), average fixed cost (AFC), average variable cost (AVC), and marginal cost (MC) for each level of output.
Quantity | ATC ($) | VC ($) | TC ($) | AFC ($) | AVC ($) | MC ($) |
0 | ---- | |||||
100 | 20.00 | |||||
200 | 12.50 | |||||
300 | 13.33 | |||||
400 | 15.00 | |||||
500 | 20.00 | |||||
600 | 25.00 |
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