Suppose that the marginal cost function of a firm is MC(Q) =Q2 - 4Q+ 5 The firms
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Suppose that the marginal cost function of a firm is MC(Q) =Q2 - 4Q+ 5 The firm’s total fixed cost is 10.
a. Determine the firm’s total cost function.
b. What is the firm’s total cost of production at Q = 3?
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