Cost curvessuppose a firm has a total cost functiontc 23q3

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Reference no: EM13375923

Cost Curves

Suppose a firm has a total cost function

TC = 2/3Q³ -Q² + 30Q

(a) Derive the mathematical expressions for the MC;ATC; and AV C:

(b) Determine the level of output where the average cost function reaches a minimum (the firmís capacity).

(d) Does the marginal cost slope upward at every point?

Reference no: EM13375923

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