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Problem-solving question: Use the following data on a firm's total cost schedules to calculate its average variable cost, average fixed cost, average total cost, and

Problem-solving question: Use the following data on a firm's total cost schedules to calculate its average variable cost, average fixed cost, average total cost, and marginal cost schedules.

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Output Total Cost Total Variable Cost Total Fixed cost
1 $2040 $40 $2000
2 $2070 $70 $2000
3 $2090 $90 $2000
4 $2160 $160 $2000
5 $2275 $275 $2000

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