Solved by a verified expert :3. Nokia sells a new budget cell phone. Based on information provided by the accounting department,the average variable cost is: AVC = $30 + QThe average fixed cost is: AFC = $9,000,000/Q where Q is the number of phones. The phone sells for $50.Show your work/thought process:a. Find the total cost, average cost, and marginal cost equations. b. At what level of output is average total cost minimizedb. At what level of output is average total cost minimized?
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