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Please note the points on the graph if possible. Thank you The subject is economics sorry 4. Various measures of cost Douglas Fur is a
Please note the points on the graph if possible. Thank you
The subject is economics sorry
4. Various measures of cost Douglas Fur is a small manufacturer of fake-fur boots in Chicago. The following table shows the company's total cost of production at various production quantities FW in the remaining cells of the following table Quantity (Pairs) Fixed Cost (Dollars) Variable Cost (Dollars) Average Variable Cost (Dollars per pair) Average Total Cost (Dollars per pair) Total Cost Marginal Cost (Dollars) (Dollars) 60 160 220 270 A 1 2 3 4 340 5 450 630 6 On the following graph, piot 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, plotits 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 or 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 ay orange square at (0.5, 100)) Note: Plot your points in the order in which you would like the connected. Line segments will connect the points automatically 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. ? 200 175 ATC 150 125 AVC COSTS (Dollars per pair 100 75 MC 10 20 0 QUANTITY (Pairs of boots) Step by Step Solution
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