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The table below shows a car manufacturer's total cost of producing cars. 2. The table below shows a car manufacturer's total cost of producing cars.
The table below shows a car manufacturer's total cost of producing cars.
2. The table below shows a car manufacturer's total cost of producing cars. (35 points) Q TC TVC $500,000 1 540,000 560,000 3 570,000 590,000 5 620,000 6 660,000 7 720,000 800,000 9 920,000 10 1,100,000 a. What is this manufacturer's fixed cost? b. For each level of output, calculate the total variable cost [TVC]. For each level of output except zero output, calculate the average variable cost [AVC], the average total cost [ATC], and the average fixed cost [AFC]. What is the minimum average cost output? c. For each level of output, calculate this manufacturer's marginal cost [MC]. d. In one diagram, draw the manufacturer's AVC, ATC, and MC curvesStep by Step Solution
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