Question #15239

Suppose a firm has a cost function given by:

C=5+q

a). Is this a short run or long run cost function?

b). Determine the FC and VC functions.

c). Determine AFC and AVC and AC functions.

d). Determine the MC function

C=5+q

a). Is this a short run or long run cost function?

b). Determine the FC and VC functions.

c). Determine AFC and AVC and AC functions.

d). Determine the MC function

Expert's answer

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