Consider the following cost information for a road side fuchka shop: Quantity (plates) Total Cost Tk300 350 390 Variable Cost Tk0 50 90 420 450 490 120 150 190 240 540 a) What is the fuchka shop's fixed cost? b) Calculate the fuchka shop's marginal cost, average variable cost and average total cost for making pizzas c) On the same axis, draw the MC, AVC and ATC curves and identify at what price the fuchka shop might decide to shutdown temporarily. Explain your answer 123 45

Consider the following cost information for a road side fuchka shop: Quantity (plates) Total Cost Tk300 350 390 Variable Cost Tk0 50 90 420 450 490 120 150 190 240 540 a) What is the fuchka shop's fixed cost? b) Calculate the fuchka shop's marginal cost, average variable cost and average total cost for making pizzas c) On the same axis, draw the MC, AVC and ATC curves and identify at what price the fuchka shop might decide to shutdown temporarily. Explain your answer 123 45

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 3CQQ

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