Question: A competitive firm has the following short-run cost function: C(q) = q3 - 8q2 + 30q + 5. Find MC, AC, and AVC and sketch

A competitive firm has the following short-run cost function: C(q) = q3 - 8q2 + 30q + 5.

  1. Find MC, AC, and AVC and sketch them on a graph.
  2. At what range of prices will the firm supply zero output?
  3. Identify the firm's supply curve on your graph.

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