Do you really understand the theory of costs?

DO YOU REALLY UNDERSTAND THE THEORY OF COSTS?

Complete the Table below from the clues given below it.

Output	Total Cost	Marginal Cost	Average Total Cost	Average Fixed Cost	Average Variable Cost	Total Variable Cost	Total Fixed Cost
1
2
3
4
5
6

CLUES:

1.  Average Fixed Costs for 6 units of output is £9.

2.  Average Variable Cost for 2 units of output is £30.

3.  Total Cost is increased by £28 when the third unit of output is produced.

4.  Average Total Cost of 4 units of output is equal to the Average Total Cost of 3 units of output.

5.  Total Cost for 5 units of output is £258.

6.  Total Variable Cost is increased by £100 when the sixth unit of output is produced.

7.  Total Cost increases by £8 when the second unit of output is added.