Surplus A perfectly competitive firm has this short run total cost equation: STC = 4q2 + 81 a. Find the other six cost equations and GRAPH the firm's AVC, MC, and AC curves. VC = AVC = %3D MC = %3D FC = AFC = AC = b. Find the minimum of average cost: ACMIN = at qa = %3D
Surplus A perfectly competitive firm has this short run total cost equation: STC = 4q2 + 81 a. Find the other six cost equations and GRAPH the firm's AVC, MC, and AC curves. VC = AVC = %3D MC = %3D FC = AFC = AC = b. Find the minimum of average cost: ACMIN = at qa = %3D
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Could I have help figuring out this practice problem? I’m having trouble how to find the 6 cost curves or the minimum average cost.
![4. Short Run Producer Surplus
STC = 4q? + 81
%3D
A perfectly competitive firm has this short run total cost equation:
a. Find the other six cost equations and GRAPH the firm's AVC, MC, and AC curves.
MC =
AVC =
VC =
AC =
AFC =
FC =
at qa =
ACMIN =
b. Find the minimum of average cost:
SF
SPRIN
Tompetit
TER
8
Pockets ands](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe62e9d48-7cde-47ae-8426-f52fc15cfc40%2F547b6ed4-c673-4798-a022-51b7f1258ce4%2Fwrs4h1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4. Short Run Producer Surplus
STC = 4q? + 81
%3D
A perfectly competitive firm has this short run total cost equation:
a. Find the other six cost equations and GRAPH the firm's AVC, MC, and AC curves.
MC =
AVC =
VC =
AC =
AFC =
FC =
at qa =
ACMIN =
b. Find the minimum of average cost:
SF
SPRIN
Tompetit
TER
8
Pockets ands
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