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A firm has a fixed production cost of $5000.  For the first 100 units of production, the firm has a constant marginal cost of production of $400 per unit produced.  Producing more than 100 units ha s constant marginal cost of production of $600.  The firm cannot produce more than 150 units.  What is the firms Total Cost, Marginal Cost, Average Total Cost, Average Variable Cost and Average Fixed Cost functions.

 

 

Microeconomics, Economics

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