Please answer all questions and fill in the table. The value is in the table. It is microeconomis. Please use typing to answer. Answer the questions based on the table below:QTC TVC AFCAVC ATC MC06060180804 400500a) Fill in the table aboveb) Does this firm operate in short run or long run? Explainwhy?c) Skecth the total fixed cost, total variable cost and total cost.3.

Total cost of the firm is the cost the firm had to incurred during his entire production process. It…

Answer the questions based on the table below: QTC TVC AFCAVC ATC MC 0 60 1 60 180 3 80 4 400 5 500 a) Fill in the table above b) Does this firm operate in short run or long run? Explain why? c) Skecth the total fixed cost, total variable cost and total cost. 2.

Answer the questions based on the table below: QTC TVC AFCAVC ATC MC 0 60 1 60 180 3 80 4 400 5 500 a) Fill in the table above b) Does this firm operate in short run or long run? Explain why? c) Skecth the total fixed cost, total variable cost and total cost. 2.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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