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23.1 (0) Remember Otto's brother Dent Carr, who is in the auto repair bustiess? Dent found that the total cost of repairing s cars is
23.1 (0) Remember Otto's brother Dent Carr, who is in the auto repair bustiess? Dent found that the total cost of repairing s cars is c(s) = 282 + 100. (a) This implies that Dent's average cost is equal to his average variable cost is equal to , and his marginal cost is equal to . On the graph below, plot the above curves, and also plot Dent's supply curve. Dollars 80 60 40 20 5 10 15 20 Output (b) If the market price is $20, how many cars will Dent be willing to repair? If the market price is $40, how many cars will Dent repair? (c) Suppose the market price is $40 and Dent maximizes his profits. On the above graph, shade in and label the following areas: total costs, total revenue, and total profits
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