Explain whether the marginal cost changes if total cost changes.

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Chapter 21, Problem 18QP

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Explain whether the marginal cost changes if total cost changes.

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QUESTION Given TC = 100 + 60Q – 12Q2 + Q3 find: (a) The equations of the TVC, AVC, and MC functions. (b) The level of output at which AVC and MC are minimum, and prove that the AVC and MC curves are U-shaped. (c) Find the AVC and MC for the level of output at which the AVC curve is minimum