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QUESTION
economics table
- Use the “ Economics Table”(attach below) to calculate the total revenue, total costs, average revenue, marginal revenue, and marginal/average costs.
- Construct a graph that shows the total revenue, total costs, and total profit as a function of the number of wells in operation.
- Construct a graph that shows the average revenue, marginal revenue, and marginal/average costs as a function of the number of wells in operation.
- Answer the questions attached below.
