Question

Q3.
A firm's cost curves are given by the following table?
(10)
Q
TC
TFC
TVC
AVC
ATC
MC
1
100
100
2
130
100
3
150
100
4
160
100
S
172
100
6
185
100
7
210
100
8
240
100
9
280
100
10
330
100
390
100
(a) Complete the table.
(b) Graph AVC, ATC, and MC on the same graph. What is the relationship between MC curve
and the ATC, and between MC and AVC?
(c) Suppose the market price is $30. How much the firm will produce in sho run ow much
are total profits?​

Answer 1

Answer:

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