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A firm has the total cost function C(y) = 100 + 10y. Find the equation for its various cost curves. What are total fixed costs,
A firm has the total cost function C(y) = 100 + 10y. Find the equation for its various cost curves. What are total fixed costs, the average fixed cost curve, total variable costs, average variable costs (The marginal cost is 10). What are the average total costs and are they decreasing as y increases? Is the MC less than the AC?
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