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calculate questions 4,5 and 6 4. A buffet charges $12 for all-you-can-eat. Complete the following table. Ignore other costs such as the time needed to

calculate questions 4,5 and 6

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4. A buffet charges $12 for all-you-can-eat. Complete the following table. Ignore other costs such as the time needed to eat. Plates of Food Total Cost Average Cost Marginal Cost (per plate) (per plate) IN $12 $12 3 $12 $12 $12 5. Which of the following costs of owning and operating an automobile (ie driving) are entirely or mostly variable costs in relation to the amount of driving: interest on the loan used to purchase the vehicle, insurance, gasoline, driver's license, vehicle registration, depreciation, tires, maintenance, and residential parking. 6. Frank has joined an on-line movie club that charges $18 for a membership and $4 to download each movie. What is his fixed cost of downloading movies? What is his variable cost of downloading 5 movies? How many movies Frank would download based on his total benefit in the following table? Hint: Complete the table first. Numbe r of Average Marginal Average Marginal Movie Total Benefit Benefit Total Cost Cost Economi Downlo Benefit (per (per Cost (per (per C ads movie) movie) movie) movie) Surplus SO $18 $20 $22 2 $35 $26 3 $45 $30 4 $53 $34 5 $59 $38 6 $64 $42 $67 $46 8 $68 $50

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