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need explanation. Economics 102, Homework 3: Production Cost Curves Use the following graph of a firm's cost curves to answer the questions, ATC 1296 AVC

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Economics 102, Homework 3: Production Cost Curves Use the following graph of a firm's cost curves to answer the questions, ATC 1296 AVC (dollars per unit) Casts 206 120 Rate of Output (units per time period) 1. What is the marginal cost of the 120th unit of output? A) $1.20 B) $200.00 $208.00 D) $288.00 2.Using the above figure, calculate the firm's Total Cost (TC) when output is 120 units. A) $34,560 B) $9,600 $24,960 $10,560 3.Using the above figure, calculate the firm's Variable Cost (VC) when output is 100 units. A) $9,600 $296 C) $200 $20,000 4.Using the above figure, calculate the firm's Average Fixed Cost (AFC) when output is 120 units. A) $0.67 B) $80.00 C) $96.00 D) $208.00 5.Using the above figure, calculate the firm's Fixed Cost (FC) of production. A) $80 B) $10,000 C) $9.600 D) $29.600

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