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c) TC() -40q+ 200 Marginal cost MC Average cost AC- Returns to scale Marginal cost: MC- Average cost: Returns to scale:
Name: ECP 4413-Government& Business Spring 2019 Problem Set 1 Due start of class on Tuesday, Jan 22 Please print this out and put your answers here. Showing your work may get you partial credit for incorrect answers. I will not grade work tumed in on anything else. If you must miss class and cannot drop off your answers, email me a pdf of them (no photos) or upload it on Canvas. 0) Wnite the marginal cost function and the average cost function on the line for each total cost function. Also indicate over what quantities the cost function exhibits constant, increasing, and/or decreasing retums to scale a) TC()-10q mC Marginal cost MC- Average cost o 4 mcehibits retuns to scale Marginal cost: o+ MC- Average cost. 2 +30 AC- Returns to scale
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