Question: 5. Suppose the same firm's short-run cost function is C=4q2+16 a. Find variable cost, fixed cost, average cost, average variable cost, and average fixed cost.

5. Suppose the same firm's short-run cost function is C=4q2+16 a. Find variable cost, fixed cost, average cost, average variable cost, and average fixed cost. b. Show the average cost, marginal cost, and average variable cost curves on a graph. Please draw the graph. c. Find the output that minimizes average cost. d. At what range of prices will the firm produce a positive output? e. At what range of prices will the firm earn a negative profit? f. At what range of prices will the firm earn a positive profit?

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