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THE COSTS OF PRODUCTION 30 7. Consider the following cost information for a b. Graph all three curves. What is the pizzeria: relationship between the marginal-cost curve Q (dozens) Total Cost Variable Cost and the average-total-cost curve? Between the marginal-cost curve and the average- QUID W N - O $300 $ 0 variable-cost curve? Explain. 350 50 390 11. Consider the following table of long-run total 90 420 cost for three different firms: 120 450 101 928098 150 Quantity 1 2 3 4 5 6 7 490 190 in Wal $60 $70 $80 540 240 Firm A $90 $100 $110 $120 Firm B 11 24 39 56 75 96 119 Firm C 21 34 a. What is the pizzeria's fixed cost? 49 66 85 106 129 b. Construct a table in which you calculate the Does each of these firms experience economies marginal cost per dozen pizzas using the of scale or diseconomies of scale? a information on total cost. Also calculate the marginal cost per dozen pizzas using the information on variable cost. What is the relationship between these sets of numbers? Comment. boxit thop Intot think