Problem
The market price for painting a house in Centerville is $10,000. The Total Cover-up House-Painting Company has fixed costs of $4,000 for ladders, brushes, and so on, and the company's variable costs for house painting follow this pattern
Output
(houses painted) 2 3 4 5 6 7 8 9 10
Variable cost
(in thousands of dollars) 26 32 36 42 50 60 72 86 102
Calculate the company's total costs, and graph the revenue curve and the total cost curve. Do the curves have the shape you expect? Over what range of production is the company making profits?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.