1. **Stating the problem:** We have two tables with cost data for different output levels (O). We need to fill in missing values for Fixed Cost (FC), Average Fixed Cost (AFC), Variable Cost (VC), Average Variable Cost (AVC), Total Cost (TC), Average Total Cost (ATC), Marginal Cost (MC), and Profit. 2. **Important formulas and rules:** - Fixed Cost (FC) is constant regardless of output. - Total Cost (TC) = Fixed Cost (FC) + Variable Cost (VC). - Average Fixed Cost (AFC) = \frac{FC}{O}. - Average Variable Cost (AVC) = \frac{VC}{O}. - Average Total Cost (ATC) = \frac{TC}{O} = AFC + AVC. - Marginal Cost (MC) = change in TC when output increases by 1 unit. - Profit = Total Revenue - Total Cost (not enough info to calculate revenue here). 3. **Step-by-step calculations:** **From row O=6:** - FC = 84 (given) - VC = 72 (given) - TC = FC + VC = 84 + 72 = 156 - AFC = \frac{84}{6} = 14 - AVC = \frac{72}{6} = 12 - ATC = \frac{156}{6} = 26 **From row O=7:** - MC from second table at TC=106 and MC=6 means TC at O=6 is 100 (given), so TC at O=7 = 106 - FC is constant = 84 - VC = TC - FC = 106 - 84 = 22 - AFC = \frac{84}{7} = 12 - AVC = \frac{22}{7} \approx 3.14 - ATC = \frac{106}{7} \approx 15.14 **From row O=8:** - TC at O=8 is 154 (given) - FC = 84 (constant) - VC = 154 - 84 = 70 - AFC = \frac{84}{8} = 10.5 - AVC = \frac{70}{8} = 8.75 - ATC = \frac{154}{8} = 19.25 **Check MC between O=7 and O=8:** - MC = TC(8) - TC(7) = 154 - 106 = 48 **Profit calculations:** - At TC=100, Profit = -100 (given), so Revenue = TC + Profit = 100 - 100 = 0 - At TC=106, Profit unknown - At TC=154, Profit unknown 4. **Summary table with filled values:** | O | FC | AFC | VC | AVC | TC | ATC | |---|----|-----|----|-----|----|-----| | 6 | 84 | 14 | 72 | 12 |156 | 26 | | 7 | 84 | 12 | 22 |3.14 |106 |15.14| | 8 | 84 |10.5 | 70 |8.75 |154 |19.25| | TC | MC | ATC | Profit | |------|----|-------|--------| | 100 | 6 | - | -100 | | 106 | 48 | 15.14 | ? | | 154 | ? | 19.25 | ? | 5. **Explanation:** Fixed cost remains constant at 84. Variable cost changes with output. Average costs are calculated by dividing costs by output. Marginal cost is the change in total cost when output increases by one unit. Profit requires revenue data, which is incomplete here. Final answers are the filled values above.