Assume that the production of the book "DriftKing" has the following cost function: C(X) = 200 + 5X

• Calculate an expression for the average cost, and draw this in a figure with kroner on the vertical axis, and production quantity on the horizontal axis.
• Calculate an expression for the marginal cost. Draw this into your figure. Explain why average cost will always be greater than marginal cost.
• Assume that the market price of the book is equal to the marginal cost. Explain why the company will lose out on such a pricing strategy.