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Please help me find the right solution. 4. Various measures of cost Suppose the imaginary company of Roobek is a small, Raleigh-based American apparel manufacturer
Please help me find the right solution.
4. Various measures of cost Suppose the imaginary company of Roobek is a small, Raleigh-based American apparel manufacturer specializing in athleisure. The following table presents the brand's total cost of production at several different quantities. Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) ( Dollars per pair) (Dollars per pair) 0 60 160 220 3 270 4 340 450 630 On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $160, so you should start your ATC curve by placing a green point at (1, 160). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is $100, so you should start your MC curve by placing an orange square at (0.5, 100).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.\f200 175 ATC 150 125 AVC 100 COSTS (Dollars per pair) MC 75 50 25 2 3 5 QUANTITY (Pairs of boots)Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) ( Dollars) (Dollars) ( Dollars per pair) (Dollars per pair) 0 60 60 100 1 160 60 100 100 160 60 220 60 160 80 110 50 3 270 60 210 70 90 70 4 340 60 280 70 85 110 5 450 60 390 78 90 180 6 630 60 570 95 105Step by Step Solution
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