Why does this cost theory matter for businesses?

Bathing suits production costs Please read the information below about the production costs of bat Show more Bathing suits production costs Please read the information below about the production costs of bathing suits (as we approach nicer weather?) and answer the questions that follow. You may wish to hand draw your diagrams and upload them as an image file. Quantity of bathing suits produced (per day 1=10) Total Cost 0 $100 1 $110 2 $118 3 $124 4 $128 5 $132 6 $138 7 $146 8 $156 9 $168 10 $182 A) Diagram Total Cost (TC). And what is the initial fixed and variable cost? B) Derive (i.e. calculate) and diagram ATC AVC and MC C) What are some of the ways the bathing suit company could lower their costs in the long run (as opposed to the short run)? D) Why does this cost theory matter for businesses? Show less

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