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Problem 1: Short-Run Costs [15 Points] Suppose we have this data from a firm producing smartphones. Total Quantity Total Cost Variable Profit Revenue Fixed Cost

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Problem 1: Short-Run Costs [15 Points] Suppose we have this data from a firm producing smartphones. Total Quantity Total Cost Variable Profit Revenue Fixed Cost Cost 0 $2,000 -$2,000 $1,000 $2,400 -$1,400 W N P $2,000 $2,840 -$840 $3,000 $3,520 -$520 4 $4,000 $4,400 $400 $5,000 $5,720 -$720 6 $6,000 $7,600 -$1,600 Quantity Average Average Average Marginal Marginal fixed cost variable cost total cost revenue cost 0 $1,000.00 $400.00 W 1. Fill in the above table. [4 points] Now for the next part of this problem, I will ask you to sketch two graphs with these costs on them Submit them as separate acanbe so please do not combine them Also be sure to show O Hi D 14 C Mostly cloudy

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