Question: 3 estimate supply a suppose you are given this information...
3. Estimate Supply
a. Suppose you are given this information from a movie theater making rational, optimized decisions. Sketch a graph of supply (total cost and quantity) for “theater movies” using the available data.
b. Estimate the quadratic cost function for “theater movies” that best approximates the data and add it to your graph
c. What are the average and marginal cost equations based on your estimate? Is there a non-zero quantity that minimizes these unit cost measures?