At what output level is the average cost minimized

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Consider the cost function TC(Q)= F+ cQ , where F,c > 0.

(a) Calculate and plot the TC(Q), AC(Q) and MC(Q).

(b) At what output level is the average cost minimized?

(c) Infer whether this technology exhibits IRS, CRS, or DRS. Explain!

Reference no: EM131189669

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