Question: 1. A firm faces the following cost function, TC = 5Q. (a) What is the value of fixed costs? (b) Graph the total cost function.

1. A firm faces the following cost function, TC = 5Q. (a) What is the value of fixed costs? (b) Graph the total cost function. (c) What is the total cost when Q = 10? (d) What is the cost of producing each additional unit of this good

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