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Suppose the average cost function of MEGA Company is given by the equation AC = 3 + 4Q. What is the total cost? If the price is $2, does this firm

Suppose the average cost function of MEGA Company is given by the equation AC = 3 + 4Q.

  1. What is the total cost?
  2. If the price is $2, does this firm make a profit or loss? Show your work.

Top Answer

1)Total Cost (TC) =3Q+4Q... View the full answer

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