The following table shows the cost of the shoe manufacturing firm in Millions of Rupee. Calculate the missing columns; Total cost, Average fixed cost, Average variable cost, Average total cost and Marginal cost.
Rate of
Output
Fixed
cost
Variable
cost
Total
cost
Average
fixed
cost
Average
variable
cost
Average
total cost
Marginal
cost
0 20 0
1 20 40
2 20 60
3 20 70
4 20 75
5 20 90
6 20 120
7 20 170
(Each column contains 2 Marks)
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