Production and Cost Theory 8) The following table shows the output and cost of Aura Shop. Output Total Cost Average Total Marginal Average (Unit) (RM) Cost Variable Cost Variable (RM) cost (RM) Cost (RM) (RM) 20 0 O 10 16 CON 20 22 26 32 40 50 62 10 76 i) Complete the above table. (3 marks) ii) Is Aura Shop operating in the short run or long run? (1 mark) 9) The table shows the production cost of the electric company in Nabawan. TP (unit) AVC (RM) AC (RM) TC (RM) AFC (RM) MC (RM) 0 500 1 700 200 2 800 100 3 1050 250 4 1450 400 5 1960 510 Note: TP Total Product TFC Total Cost AVC Average Variable Cost AFC Average Fixed Cost AC Average cost MC Marginal Cost Based on the table above, answer the following questions. i. Complete the table by using the information given. (3 marks) ii. Is the firm operating in the short run or long run? Why? (2 marks) ili. Give one (1) example of variable input that might be used by the above company. (1 mark)