boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).)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)78°FSunny20017515012510075502501234QUANTITY (Pairs of boots)56ATCAVCHOMCI' Homework (Ch 13)Douglas Fur is a small manufacturer of fake-fur boots in Houston. The following table shows the company's total cost of production at variousproduction quantities.Fill in the remaining cells of the following table.Quantity Total Cost Marginal Cost Fixed Cost(Pairs) (Dollars) (Dollars)(Dollars)078°FSunny123456601552202553003504502On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points (triangle symbol). Next, plot its average variable cost(AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: ForATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $155, so you should start your ATC curve byplacing a green point at (1, 155). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair ofboots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).)Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.O MF33F4$4Variable Cost Average Variable Cost(Dollars) (Dollars per pair)F5%5F6F7A6F8Average Total Cost(Dollars per pair)&7F9*8F10OF110F122FnLock410:24 AM6/25/2022Insert

Given Quantity and Total cost where, MC = change in TC / Change in Qty FC = 60 remains fixed at…

boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. ?

boots is $95, so you should start your MC curve by placing an orange square at (0.5, 95).) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. ?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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