Woody Rockford quit his rock band in order to start up a small business called?Rockers, which assembles wooden rocking chairs in a small warehouse.

The table displayed to your right describes various costs incurred by Rockers at different daily output. Output is measured in terms of the number of rocking chairs produced?(assembled) per day.

a. Fill in the blanks for marginal cost?(MC) for each output level displayed in the table to your right. ?(Round your responses to two decimal?places.)

Woody Rockford quit his rock band in order to start up a small business called Rockers, which assembles wooden rocking chairs in a small warehouse The table displayed to your right describes various costs incurred by Rockers at different daily output Output is measured in terms of the number of rocking chairs produced (assembled) per day. a. Fill in the blanks for marginal cost {MC} for each output level displayed in the table to your right. {Round your responses to two decimal places) b. In general, at low levels of outputI as the quantity level [daily production of chairs) increases, the marginal cost will decrease c. At higher levels of output. as production continues to increase, the marginal cost will decree . d. In general, the MC curve is a Ushaped curve. Output Chairs per Dayr (0} D mmwmmeuM-L _L D Total Variable Cost (W0) 50 12 14 15 25 40 65 95 130 180 250 Total Cost (TC) $60 1'2 1'4 1'5 85 100 125 155 190 240 31f]I Marginal Cost (MC)