economics

2. Suppose a company name "Ogrodut" produces bicycles in Bangladesh. In their production plant, the Finance Managers provided the following information for their bicycle production. Based on the information provided, answer the following questions: (10 marks) Quantity of bicycle production Fixed Variable Total Marginal Average Average Average (Q) Cost (FC) cost (VC) Cost (TC) Cost (MC) FC VC TC 0 120 0 120 13 N 120 50 3 120 110 4 120 200 5 120 310 6 120 440 7 120 600 8 120 770 9 120 980 10 120 1200 2.1) Fill in the above blank cells.... .. (3) 2.2) Draw a figure with all these variables (MC, AVC, AFC, ATC).. 2.2) What is average total cost (ATC) curve? Why does the ATC curve "U"- shaped? Explain...(2) 2.3) What is Marginal cost (MC) curve? Why does MC curve upward slopping?.........(2)