Suppose a production function is TC AQ 3 bQ 2 CQ d then the average variable

Suppose a production function is tc aq 3 bq 2 cq d

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17.Suppose a production function is TC = AQ3+ bQ2+ CQ + d then the average variable cost is a. AQ2+ bQ + cQ + c. AQ3+ bQ2+ cQ b. AQ2+ bQ + c d. d 18.Suppose a production function is Q = K1/2L1/3and in the short run capital (K) is fixed at 100. If the wage is $10 and the rental rate on capital is $20, the short run average cost is 19.As long as marginal cost is below average cost, average cost will be 20.In the short run 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 c b d b d a a a c c b d d d c c b a a c
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