The daily short run costs for a flowerpot maker, Pot Works are shown below.

Labour (workers per day	Total product	Fixed Cost	Variable Cost	Total Cost	Marginal Cost	Average Fixed Cost	Average Variable Cost	Average Cost
0	0	$120	0
1	55		100
2	165		200
3	235		300
4	285		400

Fill out the table using the data provided. When graphed, how are these marginal values plotted?

Briefly describe the shape of the average fixed cost curve, the average variable cost curve and the average cost curve, including key points where these curves intersect with the marginal cost curve.

Draw a graph showing the marginal cost, average variable cost and average cost curves.