An incomplete cost schedule for producing pizzas

Pizzas

Fixed

Cost ($)

Variable

Cost ($)

Total

Cost ($)

0

1

48

2

17

(a) What is the total cost if 0 pizzas are produced?[1 mark]

(b) What is the average variable cost of 5 pizzas?[2 marks]

(c) What is the marginal cost of the third pizza?[2 marks]

(d) If marginal revenue was $10, what would be the profit maximising output?[2 marks]

(e) If marginal revenue was $7, what would be the profit maximising output?[1 mark]