Problem
Types of cost curves, mathematically. Suppose that a coffee producer's total cost function is T C(Q) = 288 + 3Q + 2Q2 .
(a) Find the expressions for the average total cost (AT C(Q)), the average variable cost (AV C(Q)), and the marginal cost (MC(Q)).
(b) At what quantity is the average total cost minimized?
(c) Does this production function exhibit economies of scale, diseconomies of scale, or constant economies of scale? If it is different at different levels of output, then you should state the values of Q associated with each.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.