Calculate the total fixed costs, total variable costs, average fixed costs, average variable costs

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Exercise 2 Table
Total Output	Cost	TFC	TVC	AFC	AVC	ATC	MC
0	$20
10	$40
20	$60
30	$90
40	$120
50	$180
60	$280
2. Use the following table to answer the questions listed below.
a. Calculate the total fixed costs, total variable costs, average fixed costs, average variable costs,
average total costs, and marginal costs.
b. Plot each of the cost curves.
c. At what quantity of output does marginal cost equal average total cost and average variable cost? 2. Use the following table to answer the questions listed below. a. Calculate the total fixed costs, total variable costs, average fixed costs, average variable costs,  average total costs, and marginal costs. b. Plot each of the cost curves. c. At what quantity of output does marginal cost equal average total cost and average variable cost? Exercise 1 Table Total Output Cost TFC TVC AFC AVC ATC MC 0 $100 1 $150 2 $225 3 $230 4 $300 5 $400 3. Using the table in exercise 1, explain what happens to ATC when MC > ATC, MC <  ATC, and MC =  ATC. Exercise 2 Table Total Output Cost TFC TVC AFC AVC ATC MC 0 $20 10 $40 20 $60 30 $90 40 $120 50 $180 60 $280 4. Using the table in exercise 2, find the quantity where MC =  ATC. Find the quantity where ATC is at its minimum. Find the quantity that is the most efficient operating point for the firm. 1. Use the following to calculate profit at each quantity of output. Total Output (Q) Price (P) Total Revenue (TR) Total Cost (TC) 0 $1,900 $0 $1,000 1 $1,700 $1,700 $2,000 2 $1,650 $3,300 $2,800 3 $1,600 $4,800 $3,500 4 $1,550 $6,200 $4,000 5 $1,500 $7,500 $4,500 6 $1,450 $8,700 $5,200 7 $1,400 $9,800 $6,000 8 $1,350 $10,800 $7,000 9 $1,300 $11,700 $9,000 2. Use the table in exercise 1 to calculate marginal revenue and marginal cost. 3. Use the information in exercises 1 and 2 to graphically show maximum profit. Label the profit-maximizing quantity and price, total cost, total revenue, and profit.