The schedule below shows the level of output that can be produced using different levels of input. A unit of input costs $80 and the fixed costs of running your business are $50.

Input Output
0 0
1 2
2 6
3 9
4 11
5 12
1. What is your AVC of producing 11 units of output? __________
2. What is your AFC of producing 12 units? __________
3. What is the marginal cost of the 12th unit? __________
4. What is the marginal cost of your 9th unit? __________
5. At what level of output is ATC at its minimum? __________

To answer these questions, we need to understand a few concepts:

1. Average Variable Cost (AVC): AVC is the cost per unit of output and is calculated by dividing the total variable cost by the number of units produced.

2. Average Fixed Cost (AFC): AFC is the fixed cost per unit of output and is calculated by dividing the total fixed cost by the number of units produced.

3. Marginal Cost (MC): MC is the additional cost incurred by producing one additional unit of output. It can be calculated by taking the difference in total cost when producing one more unit of output.

4. Average Total Cost (ATC): ATC is the total cost per unit of output and is calculated by dividing the total cost by the number of units produced.

Now let's answer the questions using the given schedule:

1. To calculate AVC for producing 11 units of output, we need to divide the total variable cost by the number of units produced. From the schedule, we see that the total variable cost for producing 11 units is 11 units * $80 = $880. Therefore, the AVC for producing 11 units of output is $880 / 11 units = $80.

2. To calculate AFC for producing 12 units of output, we need to divide the total fixed cost by the number of units produced. From the schedule, we see that the total fixed cost is $50. Therefore, the AFC for producing 12 units of output is $50 / 12 units = $4.17 (rounded to two decimal places).

3. The marginal cost of the 12th unit can be calculated by taking the difference in total cost when producing the 12th unit. From the schedule, we see that the total cost of producing 11 units is $880. The total cost of producing 12 units is $930. Therefore, the marginal cost of the 12th unit is $930 - $880 = $50.

4. Similarly, the marginal cost of the 9th unit can be calculated by taking the difference in total cost when producing the 9th unit. From the schedule, we see that the total cost of producing 8 units is $700. The total cost of producing 9 units is $780. Therefore, the marginal cost of the 9th unit is $780 - $700 = $80.

5. To find the level of output at which ATC is at its minimum, we need to calculate ATC for each level of output and look for the lowest value. ATC can be calculated by dividing the total cost by the number of units produced. From the schedule, we can calculate the total cost and divide it by the corresponding number of units for each level of output. Then, we compare the ATC values to find the minimum.

Input Output Total Cost ATC
0 0 $50 N/A
1 2 $130 $65.00
2 6 $190 $31.67
3 9 $250 $27.78
4 11 $330 $30.00
5 12 $410 $34.17

From the table, we can see that the minimum ATC occurs at 3 units of output with an ATC of $27.78.

Therefore, the answers to the questions are:
1. AVC of producing 11 units of output is $80.
2. AFC of producing 12 units of output is $4.17 (rounded to two decimal places).
3. Marginal cost of the 12th unit is $50.
4. Marginal cost of the 9th unit is $80.
5. ATC is at its minimum at 3 units of output.