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2. (25 points] A competitive rm has an AVG = 9+3? and a xed cost equal to 9. a. Derive the rm's cost function C(y),
2. (25 points] A competitive rm has an AVG = 9+3? and a xed cost equal to 9. a. Derive the rm's cost function C(y), marginal cost function SMC{y] and average cost SAC[y). Show AVGSMC and SAC on a graph. 1}. Suppose the market price is 15. How many units would the rm produce? Determine the associated prot and producer surplus for the rm. Explain any difference
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