The marginal total and average total cost curves on

Reference no: EM13388322

Complete all the blank entries in the given table. Then use the data to graph (toscale) the Fixed, Variable, Average Fixed, and Average Variable cost curves on one graph and graph (to scale) the Marginal, Total and Average Total cost curves on another graph. Do the shapes of all the curves conform to conventional economic knowledge?

(Difficulty/ Easy)

Betty's Bakery

Quantity	Fixed	Variable	Total	Average	Average	Average	Marginal
of	Cost	Cost	Cost	Fixed	Variable	Total	Cost
cakes				Cost	Cost	Cost

1		$13	$38

2		$28

3			$70

4		$64

5			$110

6		$108

7		$133

8			$185

Reference no: EM13388322

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