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Here is some data on the cost of produced leather couches for a boutique furniture maker (one of those overpriced furniture stores in Soho, probably

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Here is some data on the cost of produced leather couches for a boutique furniture maker (one of those overpriced furniture stores in Soho, probably on Mercer...) Output 0 1 2 3 14 5 16 7 18 9 10 Total cost 2,000 5,000 7,500 9,500 11,000 12,000 13,000 14,500 16,500 19,000 22,000 At what point is ATC minimized? At what point is MC minimized? At what point is AVC minimized? If the price of leather couches was 2,100, what is maximum total profit the company can make? (Hint: you need to figure out what the optimal output level is given this price.)

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