I believe I have answered all of the exercises correctly, however, I am looking for confirmation. If I did mess up, please explain why. I am desperately trying to understand the process. Thank you for your help!

You have collected the following data on output and total variable costs:

Change in variable cos 1 Marginal COS I: Change in quamiry = 3960024450 2010 =1512 10 =1515 Q TVC MC 10 24450 - 20 39500 1515 30 48150 055 40 52800 455 50 56250 345 60 51200 495 70 '70350 '915 00 86400 1605 90 112050 2555 100 150000 3795 The table shows that the marginal cost is declining upto the level of output of 50. Therefore the increasing returns is from output 10 to 50. After the level of 50, the marginal cost is increasing. Therefore the diminishing returns is from 60 to 100. TC=TVC + TFC =24450 + 14300 =38750 AVC-TVC 24450 10 =2445 AC-TC 38750 =3875 TC AVC ATC O 10 38750 2445 3875 20 53900 1980 2695 62450 1605 2081.67 40 67100 1320 1677.50 50 70550 1125 1411 60 75500 1020 1258.33 84650 1005 1209.28 80 100700 1080 1258.75 90 126350 1245 1403.89 100 164300 1500 1643 The two graphs are drawn based on the values obtained from the table. TVC and TC - TVC - TC 200000 150000 100000 Costs 50000 20 40 60 80 100 Quantity\fQ TVC ($) 10 24,450 20 39,600 30 48,150 40 52,800 50 56,250 60 61,200 70 70,350 80 86,400 90 1 12,050 100 150,000