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Suppose that the manager of a firm operating in a competitive market has estimated the firm's average variable cost function to be AVC = 10

Suppose that the manager of a firm operating in a competitive market has estimated the firm's average variable cost function to be AVC = 10 - 0.03q + 0.00005Q2 and TFC = 60.

  1. What is the TC function?
  2. What is the optimum profit?
  3. What is the output where AVC is minimum?

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