Homework answers / question archive / 1)( a ) Complete the following cost schedule:                  Rate of  Total     Marginal        Average          Average Variable             AvergageTotal Output  Cost         Cost             Fixed Cost                  Cost                         Cost   0          $ 800           1           1,000          2           1,250           3           1,550          4           2,000          5           2,500          ( b ) Use the cost data to plot the ATC and MC curves on the accompanying graph

1)( a ) Complete the following cost schedule:                  Rate of  Total     Marginal        Average          Average Variable             AvergageTotal Output  Cost         Cost             Fixed Cost                  Cost                         Cost   0          $ 800           1           1,000          2           1,250           3           1,550          4           2,000          5           2,500          ( b ) Use the cost data to plot the ATC and MC curves on the accompanying graph

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1)( a ) Complete the following cost schedule:

Rate of  Total     Marginal        Average          Average Variable             AvergageTotal

Output  Cost         Cost             Fixed Cost                  Cost                         Cost

0          $ 800          

1           1,000         

2           1,250          

3           1,550         

4           2,000         

5           2,500         

( b ) Use the cost data to plot the ATC and MC curves on the accompanying graph.

 ( c ) At what output rate is ATC minimized? (Use higher rate.).