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Question 1

The table below shows data for Bags for an individual firm.

Quantity of BagsFixed CostsVariable Costs
1110104
2110224
3110360
4110512
5110680
6110864
71101064
81101280

Given this data, what are total costs when quantity is `7`?

 

Given this data, what are average total costs when quantity is `6`?

 

Given this data, what are average fixed costs when quantity is `3`?

 

Given this data, what are average variable costs when quantity is `2`?

 

Given this data, what are marginal costs when quantity increases from `7` by one unit?

 




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