Answered: . (20 points) A firm has a cost…

. (20 points) A firm has a cost function c = 0.5g³ – q² + q. (a) What is its fixed cost? (b) At what value of q that its marginal cost intersects with the average cost?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 19RQ: What shapes would you generally expect each of the following cost curves to have: fixed costs,...

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Question

. (20 points) A firm has a cost function c =
= 0.5g³ – q² + q.
(a) What is its fixed cost?
(b) At what value of q that its marginal cost intersects with the average cost'?

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Good afternoon PLease answer iv and v
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