Using the Drop Box link below, download the Excel spreadsheet containing the cost data for Arc Fabrication & Design, Inc. Note: the spreadsheet will open in your internet browser, then click the download option at the top of the page in order to get direct access to the .xlsx file.

https://www.dropbox.com/s/rbx6gf5phhujhvv/2022%20EMBA%20cost%20spreadsheet.xlsx?dl=0

Column A shows the output level per week and Column B shows the total variable cost for each level of weekly output. Arc's total fixed cost is $3,500 weekly. Using the appropriate formulas, complete columns C through J. In column L, tabulate the difference between AVC and SMC (i.e., Column F - Column J). In column M, tabulate the difference between ATC and SMC (i.e., Column H - Column J).

1. At what production level does short-run marginal cost reach its minimum value? What is the value of SMC at its minimum point?