2. Aero Corporation's total cost function is estimated as TC = 480 + 0.05Q2 + 18Q. (a) Derive average fixed cost (AFC), average cost (AC) and marginal cost (MC) functions. (b) Calculate the average cost-minimising output level. 3. Suppose the demand and cost functions of a monopolist are estimated as follows: Demand function: Q = 200- P Cost function: TC = 800 + 15Q + 3Q- (a) Calculate the revenue-maximising output and price levels. (b) Calculate the profit-maximising output and price levels. (c) Based on your answers in (a) and (b), is that revenue-maximising output level is always greater than profit-maximizing output level