Question: Assume the short run variable cost function for Japanese beer i s VCequals 0 . 8 q Superscript 0 . 8 . I f the

Assume the short run variable cost function for Japanese beer is
VCequals0.8q Superscript 0.8.
If the fixed cost (F)is $600 and the firm produces 700 units, determine the total cost of production (C), the variable cost of production (VC), the marginal cost of production (MC), the average fixed cost of production (AFC), and the average variable cost of production (AVC). What happens to these costs if the firm increases its output to750?
Part 2
Assuming the firm produces 700 units, the variable cost of production (VC)is

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