Problem
Gail works in a flower shop, where she produces ten floral arrangements per hour. She is paid $10 an hour for the first eight hours she works and $15 an hour for each additional hour she works. What is the firm's cost function? What are its AC, AVC, and MC functions? Draw the AC, AVC, and MC curves.
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.