Answer the following questions to the best of your ability.

=.+. =100.06 + 0.000152 =.+. +

Answer the following questions: 1. At what value of q is AVC at its minimum? (Hint: The easiest way to calculate this value is to solve AVC - MC = 0 for q.) 2. At the above output level what value does AVC take? 3. If the forecasted price of the firm's output is $10 per unit: a How much output will the firm produce in the short run? b How much profit (loss) will the firm earn)? 4 If the forecasted price is $7 per unit: a How much output will the firm produce in the short run? b How much profit (loss) will the firm earn)?