The cost structure of a manufacturer of microchips is described in the table in the next column. The firm’s fixed costs equal to $10 per day. Calculate the average variable cost, average fixed cost, and average total cost at each output level.   Output (microchips per day) Total Cost of Output ($ thousands) 0 10 25 60 50 95 75 150 100 220 125 325 150 465

Q: average total cost and what is the average variable cost I put what I thought the answers could be.

A:

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