Derive the marginal and average cost functions

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Reference no: EM131777553

Question: Please answer the question clearly with all steps, clear hand writing, and with explanation, that is very important!

A golf ball manufacturer faces a fixed cost of FC = 20 for operating and a variable cost of VC = 4q where q is the quantity of golf balls it produces.

(a) Derive the total cost function

(b) Derive the marginal and average cost functions (ATC, AVC and AFC).

Reference no: EM131777553

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