Question: Given: TC = 100 + 60Q - 12Q 2 + Q 3 . Find (a) the equations of the TVC, AFC, and MC functions and

Given: TC = 100 + 60Q - 12Q 2 + Q 3 . Find (a) the equations of the TVC, AFC, and MC functions and (b) the level of output at which AVC and MC are minimum, and prove that the AVC and MC curves are U-shaped. (c) Find the AVC and MC for the level of output at which the AVC curve is minimum. Answer the same questions as in Problem 1 ifTC = 120 + 50Q IO.

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