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1) Best Laundry has the following cost function:
TC = 10 + 10 Q + Q2 where Q is tons of laundry cleaned.
MC = 10 + 2Q
a) Derive the firm's average total cost curve equation.
b) Do the same for the firm's average variable cost curve.
c) If the competitive market price is $50/ton, How many tons of laundry would it clean?
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