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Question 3 (Cost Curve) A firm's cost function is c(y)=3y 2 +20 (a) On the same graph, graph the average variable costs, average total costs,

Question 3 (Cost Curve) A firm's cost function is c(y)=3y² +20

(a) On the same graph, graph the average variable costs, average total costs, and marginal costs. What are the equations for each curve?

(b) At what level of output does the marginal cost curve intersect the average variable cost curve? At what point does the marginal cost curve cross the average cost curve?

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