I need help filling out the table and graphing it. Thank you. 7. Various measures of costDouglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows the company's total cost of production at variousproduction quantities.Fill in the remaining cells of the table.Quantity Total Cost Marginal Cost(Pairs) (Dollars) (Dollars)012345660160220270340450630Fixed Cost(Dollars)Variable Cost(Dollars)Average Variable Cost(Dollars per pair)Average Total Cost(Dollars per pair) On the following graph, plot Douglas Fur's average total cost curve (ATC) using the green points (triangle symbol). Next, plot its average variablecost curve (AVC) using the purple points (diamond symbol). Finally, plot its marginal cost curve (MC) using the orange points (square symbol).Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.COSTS (Dollars per pair)200175150125100755025003QUANTITY OF OUTPUT (Pairs of boots)12ATCAVCMC

Total cost is the sum of fixed cost and variable cost. Fixed cost remains fixed at all level of…

7. Various measures of cost Douglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows the company's total cost of production at various production quantities. Fill in the remaining cells of the table. Quantity Total Cost Marginal Cost (Pairs) (Dollars) (Dollars) 0 1 2 3 4 5 6 60 160 220 270 340 450 630 Fixed Cost (Dollars) Variable Cost (Dollars) Average Variable Cost (Dollars per pair) Average Total Cost (Dollars per pair)

7. Various measures of cost Douglas Fur is a small manufacturer of fake-fur boots in San Francisco. The following table shows the company's total cost of production at various production quantities. Fill in the remaining cells of the table. Quantity Total Cost Marginal Cost (Pairs) (Dollars) (Dollars) 0 1 2 3 4 5 6 60 160 220 270 340 450 630 Fixed Cost (Dollars) Variable Cost (Dollars) Average Variable Cost (Dollars per pair) Average Total Cost (Dollars per pair)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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