Use the variable cost information in the following table to caleulate average variable cost and average cost (assume fixed cost is $350), and then use this data to answer the questions that follow. Quantity Produced Fixed Cost Variable Cost Average Variable Cost Average Total Cost 10 $350 $100 20 $350 $180 30 $350 $240 40 $350 $300 50 $350 $450 60 $350 $630 70 $350 $840 1. Fill in the table above. 2. Give one example of a price at which this firm would want to produce and sell output in both the long run and the short run. 3. Give an example of a price at which this firm would want to produce and sell output in neither the long run nor the short run. 4. Give an example of a price at which this firm would want to produce and sell output in the short run, but not in the long run.

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

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