You are thinking about setting up a lemonade stand. The stand itself costs $200.The ingredients for each cup of lemonade cost $0.50.
a)What is your fixed cost of doing business?
b)Construct a table showing your total cost, average total cost, and marginalcost for output levels varying from 0 to 45 L. (HINT: There are 4 cups in alitre.) Draw the three cost curves