Complete the following table by filling in the blanks. Hint: start with the first column and work to the right, column by column.

Quantity produced

Item 0 1 2 3 4

Total Cost $400

Total fixed cost $120

Total variable cost $140

Average cost N/A* $110

Average fixed cost N/A*

Average variable cost N/A* $70

* Note: N/A means not applicable (because at zero output there is not an average cost per unit).