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Question 3 (7 points) Cost/A verage Cost A linear cost function, in dollars, is given by C (q) = mg + b where $ b
Question 3 (7 points) Cost/A verage Cost A linear cost function, in dollars, is given by C (q) = mg + b where $ b is the fixed cost, m (ii/item) is the marginal cost and q is the number of items. C(61) (1) Determine limE(q) = lim. Is [Hospital '5 rule applicable? Justify (5 points) [1) Interpret contextually your nding in question a) above. (2 points)
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