Question: Question 5 [Optional] Suppose the cost function of the rm X WZ to produce q cigarette packets is given by: C(11) =2+qq2+2q3 (a) Assume that

Question 5 [Optional] Suppose the cost function of the rm X

Question 5 [Optional] Suppose the cost function of the rm X WZ to produce q cigarette packets is given by: C(11) =2+qq2+2q3 (a) Assume that the rm can produce any non-negative real number. Find the range of q in which the average variable cost is greater [lower] than the marginal cost. (b) What can you say about the returns to scale of the production function in those ranges

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