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For Each of the Following Cost-Output Relationships, Describe the Shape

Question 5

Essay

For each of the following cost-output relationships, describe the shape (U-shape, decreasing, increasing, constant) of the average total cost and marginal cost functions (C = total cost, Q = output):
(a)C = 42,500,000 + 2550Q
(b)C = 8.48 + 0.65Q + .00220Q2

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