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 average total cost?(ATC) 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 average total cost (ATS) for each output level displayed in the table to your right. (Round your responses to two decimal places.) b. In general, at lowI levels of output, as the quantity level [daily production of chairs) increases, the average total cost will decrease c. At higher levels of output. as production continues to increase, the average total m. -- d. In general, the ATC curve is a U-shaped cunre. Output Chairs {0} 1 _a D mm-mmhtl'? Total Cost {Tc) 5??! T4 75 6-5 100 125 'l 55 'l 90 240 31 0 Average Fixed Cost (AFC) $60.00 30.00 20.00 '1 5.00 'l 2.00 'l 0.00 6.5? 7.510 6.6? 6.00 Average Variable Cost (AVG) 512.00 100 5.00 6.25 6.00 10.33 13.5? 16.25 20.00 25.00