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The table below represents the cost function of a poultry farm. The price of a crate of ...

The table below represents the cost function of a poultry farm. The price of a crate of egg is $21. Use the information contained in the table to answer the questions that follow.

Quantity of eggs (in crates) Total cost (in $)
0 50
1 55
2 62
3 75
4 96
5 125
6 162
7 203
8 248



(a) What Is the fixed cost of the farm? (2 marks]
(b)(i) Calculate the marginal cost at each level of output. [9 marks]
(ii) What is the profit maximizing output of the farm? [3 marks]
(c) Draw the demand curve for the farm. [6 marks].





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