Draw the total cost curves


Question 1: First graph - draw the total cost curves (FC, VC, and TC) in ONE diagram. You also need to label all the axes correctly and place the legend at the bottom of your diagram.

Question 2: Second graph-draw the average cost curves (AFC, AVC, and ATC) plus the marginal cost (MC) in ONE diagram. Label all the axes correctly and place the legend at the bottom of your diagram.

Quantity Fixed Cost Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost
(Q) (FC) (VC) (TC=FC+VC) (AFC=FC/Q) (AVC=VC/Q) (ATC=TC/Q =AFC+AVC) (MC=DVC/DQ)
0 300 0 300 0 0

1 300 11 311 300 11 311 11
2 300 20 320 150.00 10 160.00 9
3 300 33 333 100.00 11 111.00 13
4 300 56 356 75.00 14 89.00 23
5 300 95 395 60.00 19 79.00 39
6 300 156 456 50.00 26 76.00 61
7 300 245 545 42.86 35 77.86 89
8 300 368 668 37.50 46 83.50 123
9 300 531 831 33.33 59 92.33 163
10 300 740 1040 30.00 74 104.00 209
11 300 1001 1301 27.27 91 118.27 261
12 300 1320 1620 25.00 110 135.00 319
13 300 1703 2003 23.08 131 154.08 383
14 300 2156 2456 21.43 154 175.43 453
15 300 2685 2985 20.00 179 199.00 529

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Microeconomics: Draw the total cost curves
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