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A firm has determined that its variable costs are given by the following relationship:

VC = .05Q3 - 5Q2 + 500Q

where Q is the quantity of output produced. Determine the average variable cost function.

a. AVC = .15Q2 - 10Q + 500

b. AVC = .15Q4 - 10Q3 + 500Q2

c. AVC = .05Q2 - 5Q + 500

d. AVC = .05Q4 - 5Q3 + 500Q

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9305663

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