Is the firm operating in short run or long run

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Reference no: EM13678952

Suppose TC function is given as TC = ½ Q2 +40 and current output is 200 units.
i) Is the firm operating in short run or long run? Explain.
ii) Find the values of AVC;AFC; AC and MC corresponding to the output level of 200

Reference no: EM13678952

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