Assignment 6.1 Cost Curves Q Search Sheet Home Insert Page Layout Formulas Data Review View Cut Calibri (Body) 11 A- A Wrap Text General _ AutoSum Copy Fill Paste B I U V YA E Merge & Center $ % > .00 Conditional Format Cell Insert Delete Format Sort & Format Formatting as Table Styles Clear Filter B6 X V fx A B C D E F H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE AF AG AH Al AJ AK AL AM AN AO AP AQ Cost Curves Worksheet Q TFC AFC VC AVC TC ATC MC ...200 200 120 220 ..180 305 375 ..160 150 ..140 ...130. .120 .110 1009. 80 70 60 50 40" 1145 30 1270 20" 1410 10 " 1565 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 26 Fill in the above table completely and 27 meticulously plot the AFC, AVC, ATC, and 28 MC curves. 29 30 This graph and table demonstrate the three short run average cost curves as well as the marginal cost curve. In the readings from the text you will find the formulas for these short run curves. Use these formulas to fill out the table. All of the information you need to fill out the entire table is already on this graph. For instance, in the first column, the Fixed costs are just that, fixed. They do not change with output, so the total fixed costs for one unit would be $200. But it would be the same for 2 units or 3. The number 200 would appear in every box in that column. Total variable costs wou osts would be the sum of all variable costs. If the VC for the first unit was $120, the total variable costs for all units up to that point was $120. If the VC was $100 for the second unit, the cost for the first two units would be the sum of the two. Thus the TVC for the first 2 units would be $220. You would add the variable cost of the third unit ($85) to get the total for the first three units. The TVC of the first three units would be $120, plus $100, plus $85, or $305. Use the formulas in the chapter to fill out the table completely. Then plot the curves listed on the assignment sheet. Once you have created a chart for that, save it as a PDF and place it in the drop box for this week D Sheet1 Sheet2 Sheet3 + Ready + 100%