For each of the following cost functions calculate AC, AFC, AVC, and MC. C = 6 + 5Q C = 3 + Q^2 C = 3 + 9Q - 4Q^2 + Q^3 Assume a firm faces the following cost function: C = 0.55Q^0.67. lf the firm produces 500 units, calculate C, VC, MC, AFC, and AVC An automobile manufacturing plant is currently producing sedans such that the MP_L = 3, MP_K = 5, Wage = $15, Rent = $10. Using the efficiency rules to determine if this is efficient and if not make a recommendation as to how achieve greater efficiency