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A firm's total cost function is given by: = +^ +.^ (a) Derive the expression for marginal cost. (b) Derive the expression for average cost.
A firm's total cost function is given by:
= +^ +.^
(a) Derive the expression for marginal cost.
(b) Derive the expression for average cost.
(c) Draw the graphs of these two functions.
(d) What do you notice about their intersection?
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