Use the following to answer questions: 
-(Table: Cakes) Look at the table Cakes. Pat is opening a bakery to make and sell special birthday cakes. She is trying to decide how many mixers to purchase. Her estimated fixed and average variable costs if she purchases one, two, or three mixers are shown in the table. Assume that average variable costs do not vary with the quantity of output. If Pat purchases two mixers and bakes 200 cakes per day, what is her average total cost?
Definitions:
Investment Carrying Amount
The value at which an investment is recognized in the balance sheet after deducting any impairment or amortization.
Markup
The difference between the cost of a good or service and its selling price, expressed as a percentage over the cost.
Management Fee
A charge levied by an investment manager for managing an investment fund.
Fair Value Gain
Positive changes in the fair market value of investments or assets, reflecting increased worth.
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