Given the total cost function TC = 100 + 40Q - 15Q2 + 5Q3, calculate the
a. average fixed cost function (AFC)
b. average variable cost function (AVC)
c. marginal cost function (MC)
a. AFC = 100/Q
b. AVC = 40 - 15Q + 5Q2
c. MC = 40 - 30Q + 15Q2
Economics
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Which of the following is the injection into the circular flow model?
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