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The total costs for Morris Industries are summarized in the following table. Based on this information, fill in the missing entries in the table for
The total costs for Morris Industries are summarized in the following table. Based on this information, fill in the missing entries in the table for fixed cost, variable cost, average fixed cost, average variable cost, average total cost, and marginal cost.
1 2 3 4 5 6 7 8
Q FC VC TC AFC AVC ATC MC
0 1000
10 2000
20 2500
30 4000
40 6000
50 10,000
60 15,000
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