Production costs ($) in the short run Output (Q) TFC ($) TVC ($) TC ($) AVC ($) MC ($) 15 1 23 2 4 15(a)
Production costs ($) in the short run Output (Q) TFC ($) TVC ($) TC ($) AVC ($) MC ($) 15 1 23 2 4 15(a) Total fixed cost is dollars. (b) The marginal cost of the third unit of output is dollars. (c) The total cost of 2 units of output is dollars. (d) The total cost of 3 units of output is dollars. (e) The total variable cost of 2 units of output is dollars. (f) The total variable cost of 1 unit of output is dollars. (g) The average variable cost of 3 units of output is dollars
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