Problem Set 3.1 The Fixed, Variable, and Total Cost of Production The table below provides production cost data for a firm. Marginal OUTPUT Product VARIABLE COST 0. 1 2 3 4 5 6 8 9 10 1. Fill in the blanks in the table. 2. Graph variable cost, fixed cost, end total cost on the graph to the right. and marginal cost 3. When graphed, what is the relationship (if any) between variable cost and total cost? Why? 100 175 225 250 260 275 325 400 500 700 $ FIXED COST TOTAL COST 100 Marginal Cost 850 800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 0 0 1 2 3 4 5 6 7 8 9 10 Q please help me
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