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What is the average total cost function for firm

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Reference no: EM131935974

Assume that the TC function for a company is as follows: TC = 300 + 3Q + 2Q2.

(a) What is the average total cost function for this firm? Provide your answer as a function.

(b) What is the average fixed cost of producing 4 units of output? Provide your answer in dollars.

(c) What is the average variable cost of producing 4 units of output? Provide your answer in dollars.

Reference no: EM131935974

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