Question: 1. 2.2 A firms short-run cost function is C(q) = 200q- 6q2 + 0.3q3 + 400. Determine the fixed cost, F; the average variable cost,

1. 2.2 A firm’s short-run cost function is C(q) =

200q- 6q2 + 0.3q3 + 400. Determine the fixed cost, F; the average variable cost, AVC; the average cost, AC; the marginal cost, MC; and the average fixed cost, AFC. (Hint: See Solved Problem 7.2.) M

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