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Answer the following questions : 3. What is the firm's fixed cost? b. If the firm produces five units , what is the average total

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Answer the following questions : 3. What is the firm's fixed cost? b. If the firm produces five units , what is the average total cost ? c. What is the total cost of producing four units ? d. If the firm closes down and produces no output . what will be its total cost ? e . If the firm decides to increase its output from 6 to 7 units , by how much will its total cost increase 6. Answer the questions below on the basis of the diagram $10 AVC Cost per unit 1 2 3 4 5 6 7 8 9 10 Quantity (in 1,000s) e. ATC at 6,000 units of output? b. AFC at 6,000 units of output ? c. TVC at 6,000 units of output d. TFC at all levels of output ? e. TC at 10,000 units of output? f. AVC at 6,000 units of output

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