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Suppose that total fixed costs are zero and that labor wage is the only cost. Also assume that the firm operates under perfectly competitive conditions

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Suppose that total fixed costs are zero and that labor wage is the only cost. Also assume that the firm operates under perfectly competitive conditions and that it sells frozen yogurt for 3 Rials/ Container. ATC TC MC (Marginal Cost) Output (number of frozen Yogurt containers) 3.00 30.00 XXXXXXXXXXXX 4.00 2. (1) How much is Average Total Cost (ATC) at output 3? (ii) How much is Average Total Cost (ATC) at output 4? How much is Total Cost (TC) at output 4? (iii)

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