3. Various measures of costDouglas Fur is a small manufacturer of fake-fur boots in Philadelphia. 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 CostMarginal Cost Fixed CostVariable Cost Average Variable Cost Average Total Cost(Pairs)(Dollars)(Dollars)(Dollars)(Dollars)(Dollars per pair)(Dollars per pair)1201210270315438054756630On 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 $210, so you should start your ATC curve by placinga green point at (1, 210). For MC, plot the points between the integers: For example, the MC of increasing production from zero to one pair of boots is$90, so you should start your MC curve by placing an orange square at (0.5, 90).)Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.(?240210ATC180150AVC120MC9060301234QUANTITY (Pairs of boots)COSTS (Dollars per pair)

The marginal cost (MC) is the additional cost incurred when a firm produces one more output unit.…

Douglas Fur is a small manufacturer of fake-fur boots in Philadelphia. The following table shows the company's total cost of production at various production quantities. Fill in the remaining cells of the following table. Marginal Cost (Dollars) Quantity Total Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 120 210 270 315 4 380 475 630 AAAAAA

Douglas Fur is a small manufacturer of fake-fur boots in Philadelphia. The following table shows the company's total cost of production at various production quantities. Fill in the remaining cells of the following table. Marginal Cost (Dollars) Quantity Total Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 120 210 270 315 4 380 475 630 AAAAAA

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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I already filled out the table, but I don't understand how to answer 3. a, b, and c.
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the various measure of the cost
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