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Question: Suppose a firm has a cost function C (q) = 4q^2 + 16  a. Find its variable cost, fixed cos, avera...

Show transcribed image text Suppose a firm has a cost function C (q) = 4q^2 + 16 a. Find its variable cost, fixed cos, average total cost, average fixed cost, average variable cost. b. Find the output level that minimizes average total cost and corresponding value of average total (ATC) where marginal cost is 8q (MC = 8q)

Suppose a firm has a cost function C (q) = 4q^2 + 16 a. Find its variable cost, fixed cos, average total cost, average fixed cost, average variable cost. b. Find the output level that minimizes average total cost and corresponding value of average total (ATC) where marginal cost is 8q (MC = 8q)