forsaken4713 forsaken4713

03-06-2023
Business

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Given a cost function C = 900 + Q²: (a) What is the average cost function? What is average fixed cost? What is average variable cost? = (b) What is the average cost, average fixed cost, and average variable cost at Q 10? At Q = 30? (c) What is the marginal cost function? (d) What is the marginal cost at Q = 10? At Q = 30? (e) A firm should operate in the short run only if the price it charges covers at least the average variable cost. If the price is $20, what is the range of output the firm can produce that meets this condition?

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