d). Using your answer to (c), find Herongate Horses's total cost function. Graph the total cost function, TC(y). Find and graph the long run average cost function, LAC(y). e). Suppose now that z 2 is ...

What are the firm and industry short run supply functions? Answers:q=p/24; Q=50p/24. 4. Long Questions 1. B.D. Shovel Ltd. is one of many identical competitive firms producing spades. Its cost ...