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Homework answers / question archive / Refer to the following table and answer the questions below

Refer to the following table and answer the questions below

Economics

Refer to the following table and answer the questions below.

Q TFC TVC TC AVC MC
0     10   0
1     16   6
2         4
3   12   4  

1) What are total fixed costs?

2) What is the marginal cost of the first unit of output?

3) What is the total cost of 2 units of output?

4) What is the total variable cost of 2 units of output?

5) What is the marginal cost of the third unit of output?

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