Question: A hypothetical Total Cost function is given by: TC = 0.5 +2Q - 2Q2 + Q3, where TC is the total cost of production in

A hypothetical Total Cost function is given by: TC = 0.5 +2Q - 2Q2 + Q3, where TC is the total cost of production in dollars and Q is the quantity of output produced. a. Please calculate/determine Total Fixed Cost (TFC), Total Variable Cost (TVC), Average Total Cost (ATC), Average Variable Cost (AVC), Average Fixed Cost (AFC), and Marginal Cost (MC) functions

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