Question: 5. Suppose the cost function is C(q)=4q2+16_ a. Find variable cost= fixed cost, average cost= average variable cost, and average xed cost. Hint: Marginal cost

5. Suppose the cost function is C(q)=4q2+16_ a. Find variable cost= fixed cost, average cost= average variable cost, and average xed cost. Hint: Marginal cost is MC=3q. b. Show the average cost, marginal cost= and average variable cost curves on a graph. c. Find the output that minimizes Egg cost. d. At what range of prices will the rm produce a positive output? e. At what range of prices will the firm earn a negative prot? f. At what range of prices will the firm earn a positive profit

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