Assuming that the total fixed cost is Rs 24 .complete the following table

Output(Rs) 1 2 3

ATC(Rs) 50 40 45

AVC(Rs)

MC(Rs)

TFC 24 24 24

ATC 50 40 45

TC 50 80 135 (Calculate TC by multiplying ATC and output)

TVC 26 56 111 (Calculate TVC by subtracting TFC from TC)

AVC 26 48 37 (Calculate AVC by dividing TVC by output)

MC 50 80 135 (Calculate MC by the formula TCn-TCn-1)