Question: Use the cost function for Mad Hatter Hat Company on page 10 (i.e., TC = 1000 + 10X) and the graphs on page 12 to

Use the cost function for Mad Hatter Hat Company on page 10 (i.e., TC = 1000 + 10X) and the graphs on page 12 to answer the following questions. What Is the total cost of producing 200 and 300 hats, respectively? What is the per-unit cost at these volume levels? Explain why total costs are Increasing with volume but per-unit costs are decreasing with volume. Use graphs to help illustrate this point

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