Fill in This Table

question 127

Essay

Fill in this table.Assume that fixed cost is $100.
$$\begin{array} { c c c c c c } \text { Variable } & & & & & \text { Marginal } \\\text { Output } & \text { Cost } & \text { AFC } & \text { AVC } & \text { ATC } & \text { Cost } \\1 & \$ 100 & & & & \\2 & \$ 300 & & & & \\3 & \$ 450 & & & & \\4 & \$ 650 & & & &\end{array}$$

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Definitions:

Excludable

A characteristic of a good or service that allows owners to prevent its use by people who have not paid for it.

Private Markets

Markets in which transactions are conducted directly between parties, often involving assets not publicly traded, such as private equity and real estate.

Lighthouses

Towers equipped with navigational lights and other signaling equipment designed to guide ships and warn them of hazards at sea or along coastlines.

Ship Captains

Professionals responsible for navigating ships and supervising their crew to ensure the safe transportation of cargo or passengers.