Problem
1. At an output of 14, MC $50 and ATC $55. At an output of 15, MC $65 and ATC $56. Estimate the ATC at the break-even point. (L
2. At an output of 9, MC $20 and AVC $25. At an output of 10, MC $32 and AVC $26. What is the lowest price the firm will accept in the short run?
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.