– The scenario and questions are in the attachment, please read the instructions

– The scenario and questions are in the attachment, please read the instructions and criteria and do it carefully.
– Main references must be from these 2 text books:
1) Principles of Microeconomics, Gans, King, Byford, Mankiw (2021) ISBN 9780170445672 Edition 8 592 Pages
2) Economics of Strategy, 7th Edition (2017) (Wiley Binder Version), Dranove, Besanko, Shanley and Shaefer ISBN: 9781119042310
– if needed use 6 maximum references from Google Scholar.
– Criteria:
• Clear and concise presentation
• Correct estimation of outputs and costs
• Correct illustrations of cost functions
• DISCUSSION of costs curves and implication for business decisions given a market price