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Suppose a firm has the following short run total cost function: TC = 400 + 150Q -3Q 2 + 0.02Q 3 - 400 Based on

Suppose a firm has the following short run total cost function:

TC = 400 + 150Q -3Q2 + 0.02Q3 - 400

Based on this equation, calculate:

a)Total fixed cost function

b)Total variable cost function

c)Average fixed cost function

d)Average variable cost function

e)Average total cost function

f)Marginal cost function(6 marks)

g)The output level at which marginal cost is minimum (2 marks)

h)The output level at which average variable cost is minimum (2 marks)

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