Question: Question 2: (20 marks] The total cost function of a UK plastic packaging firm is: 9 TC = Q + 6500 250 (a) What is

Question 2: (20 marks] The total cost function of a UK

Question 2: (20 marks] The total cost function of a UK plastic packaging firm is: 9 TC = Q + 6500 250 (a) What is the cost to this firm of producing 1,000 units? [5 Marks] (b) Work out what this firm's average cost function is and the average cost of producing 1,000 units. [7 Marks] (c) What is the marginal cost for this firm? Explain your findings. [8 Marks]

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