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Determine total fixed cost, total variable cost etc and Plot
Total Output Cost TFC TVC AFC AVC ATC MC
0 $ 2010 $ 4020 $ 6030 $ 9040 $12050 $18060 $280
Use the following table to answer the questions listed below.
a. Calculate the total fixed costs, total variable costs, average fixed costs, average variable costs, average total costs, and marginal costs.
b. Plot each of the cost curves.
c. At what quantity of output does marginal cost equal average total cost and average variable cost?
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