Question: 12. A firm has a long-run total cost function: Derive expressions for long-run average cost and marginal cost, and sketch these curves. LTC(Q) Q3-200 +

12. A firm has a long-run total cost function:

LTC(Q) Q3-200 + 2200.Derive expressions for long-run average cost and marginal cost, and sketch these curves.

LTC(Q) Q3-200 + 2200.

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