Given the cost information below, answer the following question Output Total Cost $10.00 10 88.40 20 133.20 30 158.80 40 179.60 50 210.00 Instructions: Enter your answers rounded to two decimal places a. When output is 10, total variable cost is $ b. When output is 20, average fixed cost is $ c. When output is 30, average variable cost is $ d. When output is 40, average total cost is $ e. When output is 50, marginal cost is $

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Cost of Production

The entire idea of the cost of production or production cost is applied corresponding, or we can say that it is related to monetary cost. Money cost refers to any money expenditure which the firm or supplier, or producer undertakes in purchasing or hiring factor of production or factor services.