Given the following information for a restaurant, what is this firm's ATC, MC and TC at Q = 0, 1, 2, 3, and 4?
Building lease = $600
Interest owner could have earned on funds invested in business = $400
Food per meal = $500 / meal
Servers for each meal = $400/ meal
Time owner spends at each meal = $100/meal
The excel calculation and formula used are shown below:
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