solution plz Using the following tablea) construct the cost schedule for a firm operating in the short runb) Graph the average variable cost, average total cost and marginal cost curves.Quantity-Production Fixed(thousands) cost$400Marginal Average Average AverageVariable TotalCostTotalTotalVariable CostTotalCostFixedcostCostCost$4001$6402$7203$7804$820$8506.$8907$9808$1200$1700

Revenue: It refers to the profit that is earned by the firms when they produce more goods and…

Using the following table a) construct the cost schedule for a firm operating in the short run b) Graph the average variable cost, average total cost and marginal cost curves. Marginal Average Average Average Fixed Total Total Quantity- Production Fixed (thousands) cost $400 Total Variable Cost Cost Variable Total cost Cost Cost Cost $400 $640 $720 3 $780 4 $820 5 $850 $890 7 $980 8 $1200 9. $1700

Using the following table a) construct the cost schedule for a firm operating in the short run b) Graph the average variable cost, average total cost and marginal cost curves. Marginal Average Average Average Fixed Total Total Quantity- Production Fixed (thousands) cost $400 Total Variable Cost Cost Variable Total cost Cost Cost Cost $400 $640 $720 3 $780 4 $820 5 $850 $890 7 $980 8 $1200 9. $1700

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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