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Solve for the algebraic representation of average variable cost (AVC), average total cost (ATC) and Average Fixed Cost (AFC) of the following cost functions, where

Solve for the algebraic representation of average variable cost (AVC), average total cost (ATC) and Average Fixed Cost (AFC) of the following cost functions, where TC is the total cost and Q is the output. Discuss what happens to AVC, ATC and AFC as Q increases?

  1. TC =100 +60Q-3Q2+0.1Q3
  2. TC=100+60q-3Q2

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