Hi Tutors,

I think I have the table filled out correctly but I'm not understanding the bottom part. Can you help?

Pictures are attached for clarification.

Thank you!

7 . Problems and Applications Q4 Ball Bearings, Inc., faces costs of production as follows: Total Fixed Costs Total Variable Costs Quantity (Dollars) (Dollars) 120 120 60 120 80 120 100 120 140 120 200 120 320 Complete the following table by calculating the company's total cost, marginal cost, average fixed cost, average variable cost, and average total cost at each level of production.Complete the following table by calculating the company's total cost, marginal cost, average fixed cost, average variable cost, and average total cost at each level of production. Total Cost Marginal Cost Average Fixed Cost Average Variable Cost Average Total Cost Quantity (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) 120 60 V 120 120.00 60.00 180.00 20 120 60.00 40.00 100.00 20 120 40.00 33.33 73.33 40 120 30.00 35.00 65.00 60 120 24.00 40-00 64.00 V 120 120 20.00 53.33 73.33 The price of a case of ball bearings Is $60. Seeing that he can't make a profit, the company's chief executive officer (CEO) decides to shut down operations. The firm's profit in this case is $ (Note: If the firm suffers a loss, enter a negative number in this cell.) True or False: This was a wise decision. O True O FalseThe firm's profit in this case is $ (Note: If the firm suffers a loss, enter a negative number in this cell.) True or False: This was a wise decision. O True O False Vaguely remembering his introductory economics course, the company's chief financial officer tells the CEO it is better to produce I case of ball bearings, because marginal revenue equals marginal cost at that quantity. At this level of production, the firm's profit is $ (Note: If the firm suffers a loss, enter a negative number in this cell.). True or False: This is the best decision the firm can make. O True False