Question: 3. Cost Functions Consider a rm that faces the total cost function T0 = 500 + 4g + 6q2 Where q is the output level

3. Cost Functions Consider a rm that faces the total cost

3. Cost Functions Consider a rm that faces the total cost function T0 = 500 + 4g + 6q2 Where q is the output level of the rm. a) Is this a short run or long run cost function? How do you know this? b) Calculate the Average Fixed, Average Variable, and Average Total cost functions. 0) Calculate the Marginal Cost Function

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