Question

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Answer 1

Hello friends!!

Explanation:

✔️Total fixed cost cannot change in the short run so it will remain same with all the output.

✔️MC ( Marginal cost ) refers to addition total cost when one more unit of output is produced.

✔️TC ( Total cost ) is the total expenditure incurred by a firm on the factors of production required for the production of a commodity .

It is the sum total of total fixed product and total variable product.

✔️ ATC ( Average total cost) refers refers to the per unit Total cost of production.

For solution of this question see the attached picture..

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