Healthy Harry’s Juice Bar has the following cost schedules: Q VARIABLE COST TOTAL COST 0 0 30 1 10 40 2 25 55 3 45 75 4 70 100 5 100 130 6 135 165 Calculate average variable cost, average total cost and marginal cost for each quantity. Graph all three curves. Also explain the relationship between: i) Marginal cost curve and the average total cost curve ii) Marginal cost curve and the average variable-cost curve

Q: If marginal cost is $69 and the change in output is 17 units  Calculate change in total cost

A: The information being given is as follows:- Marginal cost = $69 Change in output = 17 units  Change…

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A: Marginal cost is the additional cost incurred when the additional unit of output is produced.

Q: Fill in the table below applying the cost equations.

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A: We know that ,  TC=TFC+TVC AVC=TVC/TP AFC=TFC/TP AC=TC/TP

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A: # Marginal cost is the additional change to the total cost when production goes on.

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A: The MC is related to AVC and ATC. These costs will fall as long as the marginal cost is less than…

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Q: Graph the total cost curves as well as the average and marginal cost curves.

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A: Marginal cost can be calculated with the given formula:

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