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Question 174

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Answer the following questions.
a. If TC = 1,500 + 7.5Q + Q2, what are the cost functions for VC, FC, ATC, AVC, and AFC?
b. If VC = 50Q and FC = 800, what are the cost functions for TC, ATC, AVC, and AFC?
c. If ATC = Answer the following questions. a. If TC = 1,500 + 7.5Q + Q<sup>2</sup>, what are the cost functions for VC, FC, ATC, AVC, and AFC? b. If VC = 50Q and FC = 800, what are the cost functions for TC, ATC, AVC, and AFC? c. If ATC =   , what are the cost functions for TC, FC, VC, AVC, and AFC? , what are the cost functions for TC, FC, VC, AVC, and AFC?

Correct Answer:

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"a. VC = 7.5Q + Q2
FC= 1,500
ATC = TC/Q =...

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