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3- A firm has fixed production costs of $50, and variable production costs of $5 per unit produced. Write down the equation of the total

3- A firm has fixed production costs of $50, and variable production costs of $5 per unit produced. Write down the equation of the total cost function. TC = 55+ TO = 50 + 50 OTC = 55 TC = 50 OTC = 5 + 500

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