The following table shows a car manufacturer’s total cost of producing cars:            Quantity of Car   Total Cost 0   450, 000 1   500, 000 2   550, 000 3   600, 000 4   650, 000 5   700, 000 6   750, 000 7   800, 000 8   850, 000 9   900, 000 10   950,000   What is this manufacturer’s fixed cost? For each level of output (except zero output), calculate the variable cost (VC). Calculate the average variable cost (AVC), average total cost (ATC), and average fixed cost (AFC). What is the minimum-cost output? For each level of output, calculate this manufacturer’s marginal cost (MC). On one diagram, draw the manufacturer’s AVC, ATC, and MC curves.

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A: We know that the total cost of the firm is given as :- Total fixed cost which remains same…

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A: Given,

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A: Total cost is the summation of fixed cost and Variable cost . TC = FC +VC

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Q: Find average cost if average variable cost is $22 and average fixed cost is $20

A: The data presented in the question above is:- Average variable cost = $22 Average fixed cost = $20…

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A: The cost for producing 0 units would be the fixed cost. Cost incurred irrespective of number of…

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A: Answer in step 2.

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Q: 7 A firm has this cost function: C = 4000 - 7Q + 8Q2. The firm is currently producing 5 units of its…

A: Cost Function = C = 4000 - 7Q + 8Q2  where Q = 5

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A: Given:Average variable cost=$40 Average fixed cost=$10Total output=250 tablets

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A: Variable cost as the name suggests changes with respect to the output produced. For example- the…

Q: Suppose that average total cost is $60, average fixed cost is $25, marginal cost is $45, and output…

A: Given,  ATC = $60 AFC = $25   MC = $45 Output = 300.

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Q: ips is described in the table that follows -m's fixed costs equal $10,000 per day. Ca e average…

A: Computation with the help of following formula, AVC = VC/O ATC = TC/O AFC = FC/O VC = TC-FC…

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