Evaluate the partial productivity of the variable input

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The cost function of a firm is TC = 50 + 4 Q + 2 Q^2. Find the following: The fixed cost (TFC) and the variable cost (TVC) functions The average total cost (ATC), the average variable cost (AVC), and the marginal cost functions (SMC) Using the AVC function, evaluate the partial productivity of the variable input Using the SMC function, evaluate the marginal returns of the variable input Calculate the output level at which ATC is minimized Plot the ATC, AVC, and the SMC functions

Reference no: EM13998765

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