Question
Hello I looking for this problems + the question F and G thank you The cost function (monthly) for your company can be definedas; TC
Hello I looking for this problems + the question F and G thank you The cost function (monthly) for your company can be definedas; TC = cost per unit (AC)quantity supplied (). Suppose thecost per unit (average cost) for your firm can be described as AC= (1,200/0) + 1000 + 0.250:a.What is the total cost function for your firm in terms ofQ?b.How would you interpret the intercept term in thisfunction?What is the marginal cost function for your firm?At what level of output (Q) is AC minimized?Is MC always less than AC?F) Combine the total revenue function from problem 1 andtotal cost function from this problem and derive the profit-maximizing (net-benefit maximizing) level of output and theprice that would be charged.G)Why is the output level at this point smaller than theoutput level that maximizes total revenue from problem 1,part e?
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