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Alice's Wearhouse company has fixed costs of $7,000 and its variable costs for a range of output levels are shown in the table below. Calculate total cost, average cost, marginal cost, and average variable cost for the different quantities of output shown. (Hint: Add those costs to the table under the appropriate section you create.)
Quantity
Variable Cost
0
100
$500
200
$1,000
300
$3,000
400
$7,000
500
$14,000
600
$24,000
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