Suppose function of Total Cost (TC) is the following: CT = 300 + 3Q + 2Q2 Where AT is total costo in USD y Q is number of boxes of manufactured devices  a) What are functions of Fixed Cost (FC) and Average Fixed Cost (AFC) ? Graph both b) What are functions of Variable Cost (VC) and Average Variable Cost (AVC) ? Graph both c) What is Marginal Cost (MC) Graph it

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A: Cost is the expenditure incurred on the production of goods and services.

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Q: Output (q) VC MC AFC AVC AC 1 $100 $64 $164 $64 $100.00 $64.00 $164.00 2 112 212 48 50.00 56.00…

A: The table is completed below ,   where , FC: Fixed Cost VC : Variable Cost C: Total Cost  MC :…

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A: Below is the formula: AVC = TVCQATC = TCQMC = TCn - TCn-1

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A:

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A: Cost Function = C = 4000 - 7Q + 8Q2  where Q = 5

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A: Total fixed cost refers to the cost of production that does not change despite the level of output…

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A: Given,  ATC = $60 AFC = $25   MC = $45 Output = 300.

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A: ** SOLUTION :-  Based on the given information the answer is provided as below.

Isocost and Isoprofit Curve Analysis

An isocost curve in the production theory that is a crucial part of economics depicts different combinations of factor inputs at a given market cost. In other words, this shows all the combinations of production factors that cost the same for the firm to employ. Usually, this can be depicted as a downward sloping straight line when the firms act as the price-takers in the factor markets. The slope of this mainly depicts the relative prices of different production factors.