(Step-by-Step) -solving question: Use the following data on a firm’s total cost schedules to calculate its average variable cost, average fixed cost, average
Question: Problem-solving question: Use the following data on a firm’s total cost schedules to calculate its average variable cost, average fixed cost, average total cost, and marginal cost schedules.
Output Total Cost Total Variable Cost Total Fixed Cost
1 $4050.00 $ 50.00 $4000.00
2 4070.00 70.00 4000.00
3 4100.00 100.00 4000.00
4 4140.00 140.00 4000.00
5 4200.00 200.00 4000.00
Deliverable: Word Document 
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