Question: 3. Suppose variable costs equals VC = 100Q - 15Q 2 + Q 3 and fixed costs equals FC = 50. a. State an expression

3. Suppose variable costs equals VC = 100Q - 15Q 2 + Q 3 and fixed costs equals FC = 50.

a. State an expression for Total Cost.

b. State an expression for Marginal Cost.

c. State an expression for Average Variable Cost.

d. State an expression for Average Total Cost.

e. Solve for the quantity produced at the intersection of the Marginal Cost and Average Variable Cost curves.

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