Figure 7.8 -Refer to Figure 7.8 Above to Answer the Following Questions

Essay

Figure 7.8
-Refer to Figure 7.8 above to answer the following questions.
a.Identify the curves in the diagram.
A ________
B ________
C ________
b.What is the numerical value of fixed cost when the quantity of output = 10?
c.What is the numerical value of variable cost when the quantity of output = 10?
d.What is the numerical value of total cost when the quantity of output = 10?
e.What is the numerical value of average fixed cost when the quantity of output = 10?
f.What is the numerical value of average total cost when the quantity of output = 10?
g.On the graph identify the area that represents the total variable cost of production when the quantity of output = 10.
h.On the graph identify the area that represents the fixed cost of production when the quantity of output = 10.
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