The cost table below has enough information for you to completely fill out the 26 blank cells in the five rows (associated with output of Q=0, 1, 2, 3, 4). Here is a hint: at Q=4 you are told that AFC is $24. Since AFC=FC/Q and thus FC=AFC*Q, you know that FC must be $24*4=$96. And, of course, FC is the same for all output levels, including zero. Now you have the first column completed!
Note: Please round your answers to a whole (integer) number; enter whole (integer) answers only; and do not include a $ (dollar) sign. For example, for $96.00 you will enter 96. Please use the scroll bar to view the entire eight columns of the table.
Abbreviations used: Q (quantity), FC (Fixed Cost), VC (Variable Cost), TC (Total Cost), MC (Marginal Cost), AFC (Average Fixed Cost), AVC (Average Variable Cost), ATC (Average Total Cost)
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