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QUESTION 9 1. The cost function for KLM Company is given by C(Q) = 100 + 10Q + Q 2 , where costs are measured

QUESTION 9

The cost function for KLM Company is given by C(Q) = 100 + 10Q + Q², where costs are measured in thousands of dollars, and output is measured in thousands of hours rented.a.What is the average fixed cost of producing 4 units of output?

b.What is the average variable cost of producing 4 units of output?

c.What is the average total cost of producing 4 units of output?

d.What is the marginal cost of producing 4 units of output?

e.What is the relationship between the answers to a, b, and c above?

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