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the deering manufacturing companys short run average cost function in 2008 was ac=3 + 4q where ac is the firms average cost( in dollars per pound of...
the deering manufacturing companys short run average cost function in 2008 wasac=3 + 4qwhere ac is the firms average cost( in dollars per pound of the product) and q is its output rate.a/ obtain an equation for the firms short run total cost function?b/ does the firm have any fixed costs? explainc/ if the price of the deering manufacturing companys product ( per pound) is $3, is the firm making profit or loss? explaind/ derive an equation for the firms marginal cost function?