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Graph the fixed cost-variable cost

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Complete the following table, assuming that each unit of labor cost $75.00 per day

Quantity of labor per day

Output per day

Fixed cost

Variable cost

Total cost

Marginal cost

0           

$300


1

5

$75

15

2

11

$150

$450

12.5

3

15

$525

4

18

$300

$600

5

20


37.5






 Given the table above:

  • Graph the fixed cost, variable cost and total cost curves.
  • What is the average total cost when the output is 18n units per day?

Reference no: EM131181508

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