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.
Price £ 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)