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4. (20 POINTS) A firm has the following cost function TO = 6q- + 6q + 5400 (a) Find the average cost, AC. and find
4. (20 POINTS) A firm has the following cost function TO = 6q- + 6q + 5400 (a) Find the average cost, AC. and find the output that minimizes AC. (b) Show that you have a minimum. (c) Find the marginal cost, MC. (d) Show that MC = AC when AC is at its minimum
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