Douglas Fur is a small manufacturer of fake-fur boots in Dallas. The following table shows the company’s total cost of production at various production quantities.Fill in the remaining cells of the following table.QuantityTotal CostMarginal CostFixed CostVariable CostAverage Variable CostAverage Total Cost(Pairs)(Dollars)(Dollars)(Dollars)(Dollars)(Dollars per pair)(Dollars per pair)0120   —— 1210     2270     3315     4380     5475     6630

Question
Asked Oct 20, 2019
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Douglas Fur is a small manufacturer of fake-fur boots in Dallas. The following table shows the company’s total cost of production at various production quantities.
Fill in the remaining cells of the following table.
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
 
 
 
 
 
 
 
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Expert Answer

Step 1

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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МC, 3D ТС, —ТС FC TC -ТC, n-1 VС - ТС — FC ТVС AVC о ТC АТС о

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Cost of production

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