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A power plant's fuel costs are given by: TC=10+4Q+2Q^2. Here Q represents kilowatt-hour of electricity produced. The firm can sell electricity on the wholesale market
A power plant's fuel costs are given by: TC=10+4Q+2Q^2. Here Q represents kilowatt-hour of electricity produced. The firm can sell electricity on the wholesale market for $20 per kilowatt-hour.
Calculate the total fixed costs, average total costs, and marginal cost functions (you can just use a table for the first 6 values), as well as marginal revenue.
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