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Table 2.a. Cases of LED light Total Cost bulbs produced in an hour $4,500 10 $4,900 20 $5,100 30 $5,300 40 $5,400 50 $5,700 60

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Table 2.a. Cases of LED light Total Cost bulbs produced in an hour $4,500 10 $4,900 20 $5,100 30 $5,300 40 $5,400 50 $5,700 60 $6,700 70 $7,900 80 $9,700 90 $11,800 2. Assuming that you only know the Total Costs (TC) (as is shown in the Table 2 a above) explain how you would calculate each of the following a. Variable Cost (VC); b. Average Variable Cost (AVC); c. Average Total Cost (ATC), d. Average Fixed Cost (AFC), and, e. Marginal Costs (of a single case)

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