Question: If the average cost function is 3 + 2Q, where Q is the level of output: a. What is the total cost? b. What is

  1. If the average cost function is 3 + 2Q, where Q is the level of output: a. What is the total cost?
  2. b. What is the fixed cost?
  3. c. What is the marginal cost?
  4. d. Does the production technology exhibits increasing returns to scale, constant
  5. returns to scale or decreasing returns to scale?

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