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Task 1: Draw the marginal cost curve (MC) and the average total cost (ATC) curve for a Type 1 mine. Your curves should be as

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Task 1: Draw the marginal cost curve (MC) and the average total cost (ATC) curve for a Type 1 mine. Your curves should be as neat as possible, but they do not have to be absolutely, per- fectly precise. You should, however, clearly label each curve. ATC and MC for Type 1 8000 7000 6000 5000 4000 3000 2000 1000 0 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 55,000 60,000 -ATC -MC

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