Final answer:
To fill in the table, calculate the average fixed cost, average variable cost, and average total cost for each output level. The average fixed cost is the total fixed cost divided by the quantity, the average variable cost is the total variable cost divided by the quantity, and the average total cost is the sum of the average fixed cost and the average variable cost.
Step-by-step explanation:
To fill in the table, we need to calculate the average fixed cost, average variable cost, and average total cost for each output level. The average fixed cost is the total fixed cost divided by the quantity. The average variable cost is the total variable cost divided by the quantity. The average total cost is the sum of the average fixed cost and the average variable cost.
- For output 0: Average fixed cost = $1,500 / 0 = undefined, Average variable cost = $0 / 0 = undefined, Average total cost = undefined + undefined = undefined
- For output 100: Average fixed cost = $1,500 / 100 = $15, Average variable cost = $500 / 100 = $5, Average total cost = $15 + $5 = $20
- For output 200: Average fixed cost = $1,500 / 200 = $7.50, Average variable cost = $1,000 / 200 = $5, Average total cost = $7.50 + $5 = $12.50
- For output 500: Average fixed cost = $1,500 / 500 = $3, Average variable cost = $4,050 / 500 = $8.10, Average total cost = $3 + $8.10 = $11.10