5. The following table shows data for the simpleproduction function used in Question 1. Capitalcosts this firm $20 per unit, and labor costs $10 perworker.K L TP TFC TVC TC AFC AVC ATC MC10 0 010 1 510 2 1510 3 3010 4 5010 5 7510 6 8510 7 9010 8 92a. From the information in the table, calculatetotal fixed cost (TFC), total variable cost (TVC),total cost (TC), average fixed cost (AFC),average variable cost (AVC), average total cost(ATC), and marginal cost (MC).
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