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Question 3 (15 marks) A manufacturer found that the total cost (TC) of producing q units of a product is given by TC = 2q2

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Question 3 (15 marks) A manufacturer found that the total cost (TC) of producing q units of a product is given by TC = 2q2 + 2q+800. 1. For that total cost function, (a) find marginal cost (MC), (b) total variable cost (TVC), (c) average variable cost (AVC), (d) fixed costs (FC), and (e) average fixed costs (AFC) functions. (5 marks) 2. At what level of production will average cost (AC) be at minimum? (5 marks) Prove that it is a minimum at that level of production

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