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Suppose that running hamburger business only requires food cart and labor. Monthly rent for food cart is 1,000. Monthly wage for hiring one worker is

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  1. Suppose that running hamburger business only requires food cart and labor. Monthly rent for food cart is 1,000. Monthly wage for hiring one worker is 400.

The following table shows possible monthly output depending on different levels of inputs.

  1. Complete the tablebelow (if needed, round to the second decimal place)
LaborFood cartTotal OutputMarginal OutputFixed CostVariable CostTotal CostAverage Fixed costAverage Variable CostAverage Total CostMarginal Cost
010N/AN/AN/AN/AN/A
1150
21130
31190
41240
51280
61305
71320

1. 2. Graph AFC, ATC, and MC using thecoordinate plane below. (3 points)

* Graph lines do not need to be super accurate.

image text in transcribedimage text in transcribedimage text in transcribed
30.00 29.00 28.00 27.00 26.00 25.00 24.00 23.00 22.00 21.00 20.00 19.00 18.00 17.00 16.00 15.00 14.00 13.00 12.00 11.00 10.00 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0 50 130 190 240 280 305 320

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