Question: Please answer the question below and if you can provide an explanation that would be great. An average variable cost function is estimated as AVC

Please answer the question below and if you can provide an explanation that would be great.

An average variable cost function is estimated as AVC = 34 -70 + 0.0802 Which of the following cost functions is associated with this estimate? Select one: O a ATC = 34/Q - 7+ 0.080 O b. MC = 96 - 40+ 0.102 O c.TVC = 340-70' + 0.080 O d. MC = 340 - 140' + 0.2403 A separate set of data results in the following graphs of TVC. AVC. and MC: 408000 158000 153000 108000 260 130 160 140 120 100 -MC 3001 4000 8010 The best functional forms to estimate would be to use a function for TV C. a. _ function for AVC, and a function for MC. Select one: O a. cubic (/'VC): quadratic (AV/ C): quadratic (M C) O b. cubic (1'VC); quadratic (AVC); cubic (MC) O c. cubic (1'VC}: cubic (AVC); quadratic (M C) O d. quadratic (7'VC}: cubic (AVC); cubic (MC)

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