Question: 2. A producer has a cost function C(y)=9+ y^2 (a) Find the average cost function. What shape does it have? (b) Find the marginal cost

2. A producer has a cost function C(y)=9+ y^2

(a) Find the average cost function. What shape does it have?

(b) Find the marginal cost function. What shape does it have?

(c) Find the output level that generates the minimum average cost.

(d) If the price of output p = 10, then what output level y will maximize profit?

(e) Find the supply curve y(p) of this producer.

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