Use the tables and word document already provided to answer all six questions. Only use complete sentences when applicable and when the question requires a sentence answer; the rest is multiple choice and filling in the the tables already provided in the word document. Most is just figuring the math and putting answer in the tables already provided.
PowerPoint attached to assist in answering the questions.
Business Economics: Chp. 13 Use the following information to list the total fixed costs, total variable costs, average fixed costs, total variable costs, average total costs, and marginal costs. OutputTCTFCTVCAFCAVCATCMC0$1001150222532304300 Use the following table to answer the questions listed below. Question on page 2. OutputTCTFCTVCAFCAVCATCMC0$20104020603090401205018060280 List the total fixed costs, total variable costs, average fixed costs, average variable costs, average total costs, and marginal costs. At what quantity of output does marginal cost equal average total cost and average variable cost? Describe the relation between marginal and average costs. Describe the relation between marginal and average fixed costs and between marginal and average variable costs. What best accounts for the saying “Too many cooks spoil the broth?” If average fixed costs equal $40 and average total costs equal $100 when output is 10, then total variable cost when output is 10 must be: $40 $60 $600 $6,000 Could a first mover gain a suitable advantage from gaining experience? Explain.
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