Quantity

Total Cost

Marginal Cost

Fixed Cost

Variable Cost

Average Variable Cost

Average Total Cost


(Pairs)

(Dollars)

(Dollars)

(Dollars)

(Dollars)

(Dollars per pair)

(Dollars per pair)

0  120 


—  —  


1  210 







2  270 







3  315 







4  380 







5  475 







6  630 





The following formulas are being used to compute the table where Marginal cost (MC) is the difference between the total cost (TC) of producing that unit and preceding unit.
Fixed cost (FC) is equal to the total cost of producing zero units.
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