(Answered) A competitive firm has the short-run cost function cy y3 -

Management Studies

A competitive firm has the short-run cost function c(y)= y^3 - 2y^2 + 5y +6 . Write down equations for:

a. The firm's average variable cost function

b. The firm's marginal cost function

c. At what level of output is average variable cost minimized?

d. Graph the short-run supply function for this firm, being careful to label the key points on the graph with the numbers specifying the exact prices and quantities at these points.

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