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Derive the average variable cost-average cost

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Reference no: EM132143177

You are given the following cost function:

TC=80Q--4Q^2+0.1Q^3

a. Derive the average variable cost, average cost, and marginal cost equations.

b. Over what range of output does economies of scale exist? Diseconomies of scale?

c. If the price of the product is $40/unit, how many units of output should the firm produce?

Reference no: EM132143177

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