draw the marginal and average cost curves of companies p and q where Firm p: Cost= 4Q Firm q: Cost = 10 + 4Q you are also told that each of the two firms have maximum production capacity of 40,000 (max quantity) which is produced in batches of 4,000.

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Isocost and Isoprofit Curve Analysis

An isocost curve in the production theory that is a crucial part of economics depicts different combinations of factor inputs at a given market cost. In other words, this shows all the combinations of production factors that cost the same for the firm to employ. Usually, this can be depicted as a downward sloping straight line when the firms act as the price-takers in the factor markets. The slope of this mainly depicts the relative prices of different production factors.