AChinese high technology manufacturing firm has a production function of q= 16L0 20KO 00 based on Zhang, et al., 2012). It faces prices of w= $2 and r $8. What are its short-run average variable and marginal cost curves? Let K be fixed in the short run. The firm's short-run average variable cost curve, AVC, as a function of K and q is AVC = S(Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. Eg, a superscript can be created with the character)

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