Question: Problem 1 (10 points): Show all work. You are given the following short-run total cost function. TC = 16 + q2. (a) At what value

Problem 1 (10 points): Show all work. You are given the

Problem 1 (10 points): Show all work. You are given the following short-run total cost function. TC = 16 + q2. (a) At what value of q does MC reach its minimum value? (4 points) (b ) At what value of q does the firm reach its minimum ATC? (6 points)

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