Complete the table, plot and draw the Marginal cost and average cost data, identify, and explain the optimum level of production for the business output T
Complete the table, plot and draw the Marginal cost and average cost data, identify, and explain the optimum level of production for the business
output T
Data supplied by businesses for the assignment. The following data schedules has been supplied to you concerning the local market demand and supply for Task 1 (AC 2.1 and 2.2)
Please note that an expected decrease in incomes in 2021 should decrease the demand at all prices by 20. It is expected that supply will remain the same.
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Order Paper NowPrice £ Demand 2020 Supply New crIpt-i.c■r1_, dr.-1-d for 2021 (D1) 1 100 20 2 90 30 3 80 40 4 70 50 5 60 60 6 50 70 7 40 80 8 30 90 9 20 100
The following cost data has also been supplied to you for task 3 (AC 4.1)
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