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I. Mathematical problems (5 points in sum) a) The average cost function of a firm is AC = 2q2 - 5q + 15 + 100
I. Mathematical problems (5 points in sum) a) The average cost function of a firm is AC = 2q2 - 5q + 15 + 100 Find the other six cost functions. b) The total cost function of a firm is TC = 2q3 - 5q2 + 10q + 500. Find the other six cost functions. c) A company's production function is q = VKL. In the short-run, the stock of physical capital is given as K = 25. Factor prices are PL = 5 and Pp = 10. Find all the cost functions
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