二、 (25%)
Quantity
(gallons per day) Total cost
(dollars per day)
0 400
100 703
200 880
300 1,008
400 1,160
500 1,410
600 1,840
Petunia's Farm produces and sells milk. The market for milk is perfectly competitive. The market price of milk is $2.50 per gallon. The relationship between the farm's output and total costs is shown in the table above.
1. Draw Petunia's average variable, average total, and marginal cost curves.(5%)