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Answered
Fill in the table.Assume the fixed cost is $800.
On Jul 09, 2024
Variable Total Output Cost Cost AVC ATC MC 1$400$1,200$400$1,200$4027001,50035075030031,1001,900366.67633.3340041,7002,50042562560052,7003,5005407001,00064,4005,200733.33866.671,700\begin{array} { c c c l c c } & \text { Variable } & \text { Total } & & & \\\text { Output } & \text { Cost } & \text { Cost } & \text { AVC } & \text { ATC } & \text { MC } \\1 & \$ \quad 400 & \$ 1,200 & \$ 400 & \$ 1,200 & \$ 40 \\2 & 700 & 1,500 & 350 & 750 & 300 \\3 & 1,100 & 1,900 & 366.67 & 633.33 & 400 \\4 & 1,700 & 2,500 & 425 & 625 & 600 \\5 & 2,700 & 3,500 & 540 & 700 & 1,000 \\6 & 4,400 & 5,200 & 733.33 & 866.67 & 1,700\end{array} Output 123456 Variable Cost $4007001,1001,7002,7004,400 Total Cost $1,2001,5001,9002,5003,5005,200 AVC $400350366.67425540733.33 ATC $1,200750633.33625700866.67 MC $403004006001,0001,700