Explain why the short-run marginal cost curve must intersect the average variable cost curve at the minimum point of the average variable cost curve. Online travel agencies, such as Cebu Pacific and Air Asia offer low-cost last-minute getaway deals on flights, hotels, and rental cars. Discuss the concept of sunk cost and opportunity cost to explain these deals.Provide an example of a tinn's cost function and derive the expression for {i} marginal cost and the (ii) average cost and then sketch {computer generated graphs} the corresponding functions. Also show that short-run total, average, and marginal costs increase for ever};r output level