From your cost schedule from PART 2, draw 3 different graphs with these costs combinations:
- A graph showing the combination of Fixed Cost, Variable Cost and Total Cost curves.
- A graph showing the combination of Average Total Fixed, Average Variable Cost and Average Total cost Curves.
- A graph showing the combination of Average Variable cost, Average Total Cost and Marginal Cost curves.
Below each graph, discuss the relationship shown by these cost curves, emphasizing their usefulness and importance in economic/business decision making processes.
Here is the required information from Part 2: Your quantities increases by a margin of 5 from 0 to 105. Assume any fixed cost amount of your choice and your variable costs for the respective quantities are: 0, 18000, 29500, 37000, 43000, 48000, 52000, 55400, 58150, 60150, 61650, 62850, 64250, 66250, 68850, 72250, 76350, 81350, 88350, 98350, 112350, and 131350.
Your answer should be in excel.
Your excel document must have 4 sheets. Sheet 1 should have the cost schedule from PART 2, sheets 2, 3 and 4 should contain each of the 3 different combinations of cost curves graph.