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The following table shows costs to produce different amounts of pillows for a firm. Calculate missing values for Fixed Costs, Variable Costs, Total Costs, Average
The following table shows costs to produce different amounts of pillows for a firm. Calculate missing values for Fixed Costs, Variable Costs, Total Costs, Average Variable Costs, Average Total Costs, and Marginal Costs for each number of pillows produced. (Hint: First calculate the fixed cost by looking at the total cost when zero pillows are made)
Number of Pillows | Fixed Cost $ | Variable Cost $ | Total Cost $ | Average Variable Cost $ | Average Total Cost $ | Marginal Cost $ |
0 | ? | 0 | 1 | - | - | -? |
1 | ? | ? | ? | ? | 6 | 5 |
2 | ? | ? | 10 | ? | ? | ? |
3 | ? | ? | ? | 5 | ? | ? |
4 | ? | ? | ? | ? | ? | 9 |
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