Question: A wheat farmer has production costs given by the following table where quantity is measured in bushels of wheat.

1. Fill out the missing values at the table below.
   Columns notation: quantity (Q), total cost (TC), fixed cost (FC), variable cost (VC),
   average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), and
   marginal cost (MC).
   
2. Draw on the same graph the curves for MC, AVC, ATC, AFC, with Q on the horizontal axis and cost on the vertical one.
3. Using your graph, what is the level of output at which AVC is minimized? At which output level is ATC minimized?
4. For which levels of output is AFC decreasing in output quantity?

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