Question: A rm produces some widgets. Producing q widgets costs c = 5,000 + q3 + M2 400:; where A is a positive parameter. The rm

A rm produces some widgets. Producing q widgets costs c = 5,000 + q3 + M2 400:; where A is a positive parameter. The rm wants to minimise its cost and needs to decide how many widgets to produce, hence q 2 0. For g 2 O, is the cost function concave, convex, strictly concave or strictly convex

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